Guoxin Asset Management Company Yet to be Officially Established

The Guoxin Asset Management Company has still not been formally unveiled and there will be a press conference once the company is officially established, according to the Information Center of the State-Owned Asset Supervision and Administration Commission (SASAC). This follows reports in the domestic financial press that SASAC was planning to formally unveil the new asset management company, which is frequently referred to in the local financial press as "CIC No. 2", around the Chinese National Day holidays at the start of October. By the end of the year, it's expected that Guoxin will manage the assets of 19 centrally-owned enterprises (COEs). The move is another step towards the central government's goal of reducing the number of these centrally-owned enterprises.

Source
Securities Daily

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