Bloomberg: China to `Gradually’ Sell State-Owned Shareholdings

From Bloomberg.com:

China’s securities regulator said the government will `gradually’ sell shares in state-owned companies and will retain ” substantial” stakes for a long period.

“The country still needs to hold enough shares to absolutely or comparatively control pivotal companies after making all shares tradable,” Shang Fulin, chairman of the China Securities Regulatory Commission, said in a statement handed out ahead of a briefing in China today in Beijing today.

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