Shanghai to inject mroe assets into listed firms

Shanghai will inject more State-owned assets into listed companies with outstanding performance in 2013 and plans to securitize about 40 percent of State-owned assets in Shanghai, the Shanghai Municipal State-owned Assets Supervision and Administration Commission said on Thursday.

Sources said Shanghai will accelerate its list in integrity of State-owned assets in 2013, Shanghai Securities News reported on Thursday.?

In 2012, about 35.2 percent of State-owned assets in Shanghai were securitized, lower than the planned rate of 38 percent, the commission said.

Currently, State-owned assets in Shanghai hold shares of 71 companies which are listed in the A-share market.

In 2012, revenues of enterprises and other institutions under the commission reached 1.61 trillion yuan, up 10.8 percent, with a total profit of 95 billion yuan, up 3.4 percent.?

About 61 percent of Shanghai's State-owned assets focus on strategic emerging industries, modern service industries, the advanced manufacturing industry and industries serving social welfare, the commission said.