CHINA is advancing its drive to force mergers and acquisitions in key industries to build up 10 publicly listed companies that can be internationally competitive by 2027, reports Hong Kong's South china Morning Post.
Industries include integrated circuits, biopharmaceuticals and new materials the Shanghai government with transactions worth CNY300 billion (US$41.4 billion) and total assets in excess of CNY2 trillion.
'[By 2027,] we will have significantly improved the capacity of financial intermediaries to support M&A # and strengthened the collaboration among market entities, districts, governments, and enterprises,' the Shanghai government said, adding that with an enhanced M&A ecosystem and industrial capacity, the city can better contribute to the country's 'high-quality' economic development goals.
High-quality development is central to Chinese leader Xi Jinping's vision for China's future, which emphasises a shift from high-speed growth to sustainable and innovation-driven economic progress.
SeaNews Turkey
Industries include integrated circuits, biopharmaceuticals and new materials the Shanghai government with transactions worth CNY300 billion (US$41.4 billion) and total assets in excess of CNY2 trillion.
'[By 2027,] we will have significantly improved the capacity of financial intermediaries to support M&A # and strengthened the collaboration among market entities, districts, governments, and enterprises,' the Shanghai government said, adding that with an enhanced M&A ecosystem and industrial capacity, the city can better contribute to the country's 'high-quality' economic development goals.
High-quality development is central to Chinese leader Xi Jinping's vision for China's future, which emphasises a shift from high-speed growth to sustainable and innovation-driven economic progress.
SeaNews Turkey
