SOEs undergo new set of reforms

A new round of shareholding reform is happening among State-owned enterprises at various levels nationwide.

Shanghai-based Dazhong Insurance Co Ltd recently obtained approval from the China Insurance Regulatory Commission for a change in its equity ownership.

The State-owned Assets Supervision and Administration Commission of the Shanghai Municipal Government will transfer 39 percentage points of its stake in the insurer to the United States-based Starr International Co Inc.