Head of China Research - Forsyth Barr Asia, Forsyth Barr Asia

David Millhouse

Head of China Research - Forsyth Barr Asia

Forsyth Barr Asia

Thematic (Sector/Industry)

Local press has been heavily speculating that we will get a detailed announcement of the SOE reform plan by March, where the number of central SOEs may be reduced from the current 112 to 30-60 over the next&nbsp; several years.&nbsp;It was also speculated overnight that China is considering forging mega-mergers among its big state oil companies, seeking to create new national champions. It was also speculated last week that China was looking at merging China Tel and China Unicom.&nbsp;We had hoped that the focus of SOE reform would be about (a) reducing the state&rsquo;s role in the economy (b) promoting SMEs and private companies (c) improving the efficiency and SOEs and aligning management incentives with minority shareholders.&nbsp;From what we have seen thus far however, it seems the priorities will be set at avoiding internal competition in overseas markets and creating a few large Chinese global champions.

Local press has been heavily speculating that we will get a detailed announcement of the SOE reform plan by March, where the number of central SOEs may be reduced from the current 112 to 30-60 over the next&nbsp; several years.&nbsp;It was also speculated overnight that China is considering forging mega-mergers among its big state oil companies, seeking to create new national champions. It was also speculated last week that China was looking at merging China Tel and China Unicom.&nbsp;We had hoped that the focus of SOE reform would be about (a) reducing the state&rsquo;s role in the economy (b) promoting SMEs and private companies (c) improving the efficiency and SOEs and aligning management incentives with minority shareholders.&nbsp;From what we have seen thus far however, it seems the priorities will be set at avoiding internal competition in overseas markets and creating a few large Chinese global champions.

CHINA SOE REFORM: Thoughts and implications of OIL MERGER rumours

China

China Coal Energy Company Limited mines and processes coal products. The Company produces thermal coal and coking coal products. China Coal Energy also conducts coal chemicals production, coal mining equipment manufacturing, pit mouth power generation, and coal mine design businesses.

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China Coal Energy (601898 CH)

CHINA SOE REFORM: Thoughts and implications of OIL MERGER rumours

Local press has been heavily speculating that we will get a detailed announcement of the SOE reform plan by March, where the number of central SOEs...

David Millhouse

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52-week Range

Market Cap (USDm)

P/E

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