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China to Boost Shareholding Reform

During a meeting with a delegation of the Hong Kong Association of Banks in Beijing on November 1, Vice-Premier Huang Ju said China would continue to adopt and improve its shareholding reform of State-owned enterprises under the 11th Five-Year Plan (2006–10), according to Xinhua News Agency. 

The Hong Kong delegation was headed by Hong Kong Monetary Authority Chief Executive Joseph Yam.

China's current economic and social development is good in general, and the government is making efforts for the formulation and implementation of the 11th Five-Year Plan, said Huang.

During the 11th five-year period, China will continue to enhance reform and opening-up, putting emphasis on the improvement of the corporate governance structure of financial institutions, consolidation of internal control mechanisms, and the improvement of financial institutions' assets, profits-earning capabilities and service quality to safeguard financial stability and security, he said.

People working in Hong Kong financial circles have played a positive role in promoting economic exchanges between Hong Kong and the mainland, said Huang, expressing hope that the Hong Kong financial industry will continue to enhance cooperation with the financial and other industries of the mainland so as to promote common prosperity on the mainland and in Hong Kong.