State firms encouraged to list in HK

State-owned Assets Supervision and Administration Commission (Sasac) head Li Rongrong encouraged state-owned firms to list on the Hong Kong Stock Exchange Monday, state Media reported. Speaking in the wings of the 17th Communist Party Congress, Li added that many state-owned companies, especially those under the State Council's direct control, are increasingly turning to Hong Kong for financing. Li's remarks came after President Hu Jintao's unveiling of an economic strategy urging state-owned
companies to become more competitive.