2016年CRI China's state-run sector is set to lose more weight

 

One of the most high-profile headlines on China's state-run sector¹ this year is a planned merger² between Shanghai-based Bao Steel and another steel company based in the central Chinese city of Wuhan.

Both companies, owned by the central government, are already among the biggest steel producers in the country.

It is estimated that the new business after the merger will have a steel capacity of at least 60 million tons per year.

Chen Derong, general manager of the Bao Steel, says the merger is paving roads to something that China's steel industry can be proud of.

"With this pioneering merger, I can tell you that a new round of merger and acquisition has kicked off in China's steer³ sector. After the shuffling⁴, China will also boast of a steel business like the world's leading steel producer "Arcelor Mittal", which has hundreds of millions of annual capacity."

This merger in the steel sector is not an isolated⁵ case.

Currently China has 105 central government-owned enterprises.

The country is hoping to reduce the number to somewhere below 100 by the end of this year through mergers⁶ and acquisitions.

Agricultural trading firm COFCO announced plans to buy up textile manufacturer "Chinatex Corporation" last month.

In the same month, a joint⁷ statement from the Beijing-based CITS Group Corporation and Hong Kong-based China Travel Service Group Corporation said the former will become a subsidiary of the latter in a move to create the largest tourism company in China.

The weight-losing schedule, however, is not just targeting central government-owned businesses.

Around 50 enterprises run by regional governments suspended trading on the stock market as a result of their merger or acquisition plans from January to July this year.

Xiao Yaqing, the top official in charge of the monitoring of China's state-owned assets, says the state-owned enterprises now have a clearer idea about what areas they should focus on.

"More and more state-run assets are concentrating on the areas which are strategically important for the country. In areas such as military industry, telecommunication⁸, aviation and energy, state-owned firms are now accounting⁹ for more than 90 percent of businesses."

Reduction of the overall size is by no means the only remedy to solve the problems facing the state-run sector.

The sector has yet to deal with challenges like a lack of innovation and professional business managers.

Economists¹⁰ also believe the sector will need to attract more investment from private businesses in order to encourage more competition.

But common sense tells us when a person is riddled¹¹ with excessive weight; he or she can hardly perform any other task.

The same could also be true for the state-run sector.

For CRI, this is Ding Heng.

1 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

2 merger   

n.企业合并，并吞

参考例句：

• Acceptance of the offer is the first step to a merger.对这项提议的赞同是合并的第一步。
• Shareholders will be voting on the merger of the companies.股东们将投票表决公司合并问题。

3 steer   

vt.驾驶，为…操舵；引导；vi.驾驶

参考例句：

• If you push the car, I'll steer it.如果你来推车，我就来驾车。
• It's no use trying to steer the boy into a course of action that suits you.想说服这孩子按你的方式行事是徒劳的。

4 shuffling   

adj. 慢慢移动的, 滑移的 动词shuffle的现在分词形式

参考例句：

• Don't go shuffling along as if you were dead. 别像个死人似地拖着脚走。 来自英汉文学 - 嘉莉妹妹
• Some one was shuffling by on the sidewalk. 外面的人行道上有人拖着脚走过。 来自英汉文学 - 嘉莉妹妹

5 isolated   

adj.与世隔绝的

参考例句：

• His bad behaviour was just an isolated incident. 他的不良行为只是个别事件。
• Patients with the disease should be isolated. 这种病的患者应予以隔离。

6 mergers   

n.（两个公司的）合并( merger的名词复数 )

参考例句：

• Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。 来自辞典例句
• Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件

7 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

8 telecommunication   

n.电信，远距离通信

参考例句：

• Telecommunication is an industry of service.电信业是一个服务型的行业。
• I only care about the telecommunication quality and the charge.我只关心通信质量和资费两个方面。

9 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

10 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

11 riddled   

adj.布满的；充斥的；泛滥的v.解谜，出谜题(riddle的过去分词形式)

参考例句：

• The beams are riddled with woodworm. 这些木梁被蛀虫蛀得都是洞。
• The bodies of the hostages were found riddled with bullets. 在人质的尸体上发现了很多弹孔。 来自《简明英汉词典》