China: Railways urged to court investors

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CHINESE Premier Li Keqiang had urged the heavily scrutinised railway sector to seek more private investment and rely less on state support as a key plank of its reform, the government website said yesterday. Beijing has vowed to deepen reforms of its state-owned enterprises and to open up protected industries such as finance, petroleum, power, telecoms and rail to private investors for the first time. Li said during an inspection tour on Friday that China Railway Corporation, the national operator, should explore ways to attract more private sector funds and gather experience that other state-owned enterprises could use. – Reuters


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