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Article: LISTED FIRMS TO TRANSFER PART STATE-OWNED SHARES TO SSF
- Article from:
- AsiaInfo Services
- Article date:
- June 24, 2009
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AsiaInfo Services
06-24-2009
Listed Firms to Transfer Part State-owned Shares to SSF
BEIJING, Jun 24, 2009 (SinoCast Daily Business Beat via COMTEX) -- The State Council, China's cabinet, recently released measures for the transfer of listed companies' state-owned shares to enrich the National Social Security Fund (NSSF).
According to the measures, state-controlled companies that have listed on the domestic bourses must transfer part of their state-owned shares to the National Council for Social Security Fund (SSF). The to-be-transferred shares should take up 10% of the publicly-traded companies' IPOs and the lock-up period of the shares will be still effective.
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