China's centrally-administered State-owned enterprises (SOEs) have shrunk to 131 enterprises from 132, China's State property regulator the State-owned Assets Supervision and Administration Commission (SASAC) said Tuesday.
With approvals from the State Council, China State Farms Agribusiness (Group) Corp became a subsidiary of China National Agricultural Development Group Corporation (CNADC), China's largest State-owned agricultural enterprises.
The SASAC was aiming to reduce the number of centrally-administered SOEs to between 80 and 100 by 2010 through mergers and restructuring. It had 196 centrally-administrated SOEs under its supervision when it was set up in 2003.
