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China’s State-owned enterprises to take lead Belt and Road role

May 10, 2017

BEIJING - China's central State-owned enterprises will be the major force driving the Belt and Road initiative, the top State-owned assets regulator says. "The SASAC will encourage central SOEs to deepen c-ooperation with economies along the initiative in sectors such as equipment manufacturing, technology exports, standard-setting and management to advocate mutual benefits," Xiao Yaqing, Chairman of the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC), said.

China to prop up machine tool company with US$1.4 billion lifeline

May 5, 2017

SHANGHAI - Shenyang Machine Tool, based in Liaoning province’s namesake provincial capital, will receive a major support package from China Construction Bank and the Shenyang branch of the State-Owned Assets Supervision and Administrative Commission (SASAC), the agency that oversees big State-run companies and is one of Shenyang Machine Tool’s major stakeholders.

AIIB approves first loan to India, for power project

May 5, 2017

BEIJING - The China-led Asian Infrastructure Investment Bank (AIIB) has given a green light to its first loan to India, granting US$160 million to a power project endorsed by New Delhi. The funds will be used to strengthen the power transmission and distribution system in the southeastern state of Andhra Pradesh, which is part of the Indian government’s Power for All program, the AIIB said in a statement.