Shenzhen to sell state shares overseas
1 October 2002
Shenzhen is to sell shares in its municipallyowned enterprises to overseas investors, Xinhua reported. The city's mayor, Yu Youjun, said that the State Council strongly supported the initiative, which had not been tried before in China.
Foreign investors will be invited to take stakes in the energy, water, gas, and public transport sectors. However, because these are regarded as key industries, controlling stakes would remain in China.