三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

US EUROPE AFRICA ASIA 中文
Business / Markets

John Zhao seeks more targets in state sector reform

(Agencies) Updated: 2014-04-14 15:23

John Zhao seeks more targets in state sector reform

John Zhao, founder and Chief Executive Officer of Hony Capital in China, takes part in the Asian Financial Forum in Hong Kong January 16, 2012. [Photo/Agencies]

Hony Capital, the private-equity firm backed by Legend Holdings, is likely to deploy more capital in China's state-owned manufacturing and healthcare sectors as Beijing seeks to further restructure its government-owned companies.

"This is a fabulous opportunity," said John Zhao, Hony Capital's founder and chief executive, in a recent interview. "We've accumulated a lot of strengths, experience and scars."

Hony, one of China's biggest private-equity firms, has taken stakes in 31 state-owned firms, investing 14 billion

John Zhao seeks more targets in state sector reform
China Life annual profits up 123.9%

John Zhao seeks more targets in state sector reform
China to insure elderly homes

yuan ($2.25 billion) over the past decade. The total value of those companies has more than doubled on average, the company says.

The Beijing-based investor has led restructuring of China Yaohua Glass Group, one of China's biggest sheet glass manufacturers, construction equipment giant Zoomlion Heavy Industry Science & Technology Co and Lianyungang Zhongfu Lianzhong Composites Group, a manufacturer of heavy-duty pipe, rotor blades for wind turbines, and industrial tanks.

In January, China's securities regulators approved Hony's bid to take a 10 percent stake in Shanghai Chengtou Holding Co, a city-backed real-estate and waste-management company, for 1.8 billion yuan.

China has promised sweeping changes to its state industry. Last month, the National People's Congress, the country's mostly rubber-stamp parliament, said it would "encourage non-public business" to invest in state businesses. That is creating new openings for private-equity funds, both foreign and domestic.

"We will see good firms separated from bad firms," Zhao said.

Sinopec, Asia's biggest oil refiner, said in February it was selling up to 30 percent of its marketing arm, in a multi-billion-dollar deal involving more than 30,000 petrol stations that is expected to close later this year.

"There's a consensus (among state company managers, government regulators and investors) that market-driven is much better than state control for competitive industries," Zhao said.

Film and entertainment

Hony raised its first $38 million fund from state-sponsored investment holding company Legend Holdings Corp in 2003 and today has about $7 billion under management, including $2 billion in cash.

It has invested in industries ranging from heavy equipment to renewable energy, and lately has started to take a sizable position in China's hot film and entertainment sector.

Last month, Hony announced it was teaming-up with producers Robert Simonds and Gigi Pritzker plus TPG Capital to invest more than $1 billion over five years in a film studio that will produce and self-distribute as many as 10 theatrical films a year.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 91网站桃色 | 免费人成在线观看视频不卡 | 在线免费观看黄色网址 | 国产美女亚洲精品久久久久久 | 亚洲视频不卡 | 国产在线观看免费一级 | 婷婷色天使在线视频观看 | 亚洲精品一区二区三区中文字幕 | 91频视 | 亚洲色大成网站www久久九九 | 久久99视频 | 亚洲热热久久九九精品 | 日产免费线路一页二页 | 免费久久一级欧美特大黄 | 西西人体www303sw大胆高清 | 久久精品国产免费一区 | 99久久久国产精品免费牛牛四川 | 亚洲日韩欧美视频 | 色噜噜狠狠狠综合曰曰曰88av | 成人精品人成网站 | aa级毛片毛片免费观看久 | 三级三级三级网站网址 | 久色tv| 国产成人啪一区二区 | 欧美黑人双插 | 黑人猛男大战俄罗斯白妞 | 欧美一区二区三区视频在线观看 | 久久久久久99精品 | 国产亚洲欧美日韩在线观看不卡 | 国内精品久久久久久影院老狼 | a级毛片在线播放 | 黄色一级片免费 | 久久黄色免费 | 国产乱人免费视频 | 精品久久视频 | 可以免费在线看黄的网站 | 欧美精品久久久久久久久大尺度 | 国产初高中生厕所小便 | 亚洲精品一区二区三区中文字幕 | 成人黄色影视 | 中国内地毛片免费高清 |