Beijing pushes out state-owned enterprises

Beijing will be pushing the headquarters of some big state-owned companies out of the capital, reported Bloomberg. The plan — part of President Xi Jinping’s blueprint to reinvigorate the economy — aims to move the main offices of state firms that have no core business in Beijing. The relocations would help reduce traffic congestion, pollution and overcrowding in the capital as well as reinvigorate other first- and second-tier cities on the receiving end, such as Shenzhen, Tianjin, Wuhan and others, according to the people who asked not to be identified because the discussions were private. Many details, including the timeline, are unclear.