CHINA TOPIX

11/02/2024 03:26:55 pm

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Xiao Yaqing, Chairman of State Owned Assets Supervision & Administration Commission

China to Consolidate State-Owned Firms to Prevent Massive Layofffs

China is planning to reorganize and merge the largest state-owned companies in the country in order to cut down overcapacity in the $18 trillion sector without seeing massive layoffs, a senior official revealed.

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