Hubei city set for full privatisation
Huangshi city in Hubei province has set itself the goal of privatising all its remaining stateowned companies, South China Morning Post said. Developed as an industrial centre during the Qing dynasty, the city was China's main cement production base and once seen as a stronghold of state ownership. Now, 16 of the city's 542 leading enterprises still owned by the government are to be sold over the next two years so that the government can focus on social welfare and education.
In September, the municipal Communist Party secretary led a delegation to Hong Kong to try to interest foreign investors in the 16 firms, saying incentives would be offered.