Chinese building-sector SOEs link up to weather financial turmoil
15/12/2008 16:53
Sinohydro Corp told Xinhua today that it signed a strategic partnership
agreement with the China National Building Material Group Corp, the nation's
largest building materials firm, to work together amid the financial
crisis.
The two leading state-owned enterprises (SOEs) will cooperate in the
areas of project contracting, investment, real estate development and
management.
The move was taken in response to a call by the nation's SOE
regulator, the State-owned Assets Supervision and Administration Commission, for
SOEs to cooperate to weather the financial crisis, said Beijing-based water
projects company Sinohydro.
The company said "this effort can enhance both
sides' competitiveness and help secure our leading market roles."
Xinhua
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