China's State-owned Asset Supervision and Administration Commission said that it would encourage major SOEs to seek listings as entire groups, rather than listing only a part of the enterprise. State media quoted Commission Vice-Minister Shao Ning as saying that while listing was "a good way to improve the structure of SOEs" We prefer them to list the whole group, instead of splitting the company and listing its better assets." He added that SOEs that were "burdened with bad assets must submit concrete measures with their listing applications on how to deal with these before achieving a complete listing." Shao said that previous offerings had tended to see the listed firm becoming a financing platform for its bad-asset-ridden parent.
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