Air China's mixed-ownership reform for freight approved

Updated 2017-04-25 10:01:01 Global Times

China National Aviation Group, the holding company of Air China, has been given approval by the National Development and Reform Commission (NDRC) to pursue mixed-ownership reform of its air freight logistics business, domestic news portal sina.com reported on Monday.

The specific implementation of the reform will involve the relevant business of the group and its subsidiaries, the report said, citing an announcement of Air China on Friday.

The report also noted that the group has not made any specific plans for the implementation of mixed-ownership reform, and no agreement or arrangement has been concluded yet with any party.

The approval happened within a month since Liu He, a deputy director of the NDRC, said that mixed-ownership reform should be managed with great care and involve pilot initiatives in such areas as electricity, gas, railways, civil aviation and telecommunications. It also should be approved and implemented as quickly as possible.

In the civil aviation sector, China South Airlines moved toward mixed ownership in March by announcing plans to sell 270 million Hong Kong-listed shares worth HK.55 billion (9.6 million) to American Airlines at HK.74 per share.

Earlier this month, China Unicom and its Shanghai-listed affiliate said they were preparing to announce mixed-ownership reform plans, which are part of the Chinese government's push to draw private capital into State-owned enterprises, according to media reports.

The central government, which has made mixed-ownership reform one of its priorities, currently owns and administers 102 enterprises in sectors from nuclear technology to medicine, Reuters said on April 22.

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