Plans to reshuffle asset firms

After bad loan-clearing tasks are completed late next year, China's four state-owned asset management companies (AMCs) will be restructured into joint-stock commercial ventures, state media reported, citing government officials. The finance ministry owns the four AMCs and it is drafting a reform plan and seeking opinions on it. The draft plan would require the AMCs to undergo joint-stock restructuring and open up to both foreign and domestic strategic investors.