Electronics majors may merge
26 July 2005
As part of a bold plan to restructure state-owned enterprises (SOEs), two state-owned conglomerates could soon be merged, creating a company with assets of more than US$6.17bn, state media reported, citing a State Council official. The two SOEs are China Electronics Corp. and the China Great Wall Computer Group. Including Panda Electronics Group in the merger is also under consideration. The government is trying to reduce the number of big SOEs competing in each industry, encourage their restructuring and eventual overseas listing on stock exchanges.