In 2003, the government founded SASAC (State-owned Assets Supervision and Administration Commission of the State Council), with a clear goal of preserving and growing the state capital. [...] As shown in the table, the higher the growth speed associated with an SOE group, the higher is the group’s debt-to-assets ratio. [...] In the State Council’s Notice on issuing this document, the most relevant to the CCCI-Aecon deal is the government’s call for “exploring how to utilize the industrial funds, state capital, and other channels to support our high-speed rail, power equipment, automobiles, engineering and construction, and advanced industrial capacity to go global and to conduct overseas investment and mergers and acq [...] In this regard, the CCCI-Aecon deal is the implementation of CCCC’s “Chinese SOEs in mission as the investor of state capital. [...] Liu the board chairman of CCCC is also the party secretary of CCCC – an official position in every corner of China that commends everyone else and sees through the implementation of the national strategy set by the party.
- Pages
- 10
- Published in
- Ottawa, ON, CA
