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(Nikkei BP Group)

(No.1 High-Tech News Site in Japanese)

  • Beijing Encourages Foreign Ventures to Join State Reforms
  • September 23, 1998 (BEIJING) -- The Beijing municipal government recently adopted 10 measures to encourage foreign ventures to participate in the reforms of the city's state-owned enterprises.
    The new regulations, announced by the Beijing Municipal Administration for Industry and Commerce, stipulate that foreign ventures will be permitted to purchase or merge with state-owned enterprises on a limited basis.

    The regulations also allow foreign-funded ventures to jointly establish ventures in the service sector.

    Beijing welcomes Sino-foreign funded ventures to use technology transfers to obtain shares in state-owned ventures. Technology transfers can account for as much as 35 percent of total registered funds in specified ventures, up substantially from the former 20 percent ceiling.

    (Xinhua News Agency)

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    Updated: Tue Sep 22 18:37:14 1998 PDT