Xinhua (official China media) report that the 97 biggest industrial conglomerates, known as the country's national champions, have been instructed to boost profits by 9% this year.
- State-owned Asset Supervision and Administration Commission (SASAC) set the target for the enterprises under its direct control
Background to this is that in the first four months of 2019, the combined profits of China's industrial enterprises fell 3.4 per cent
LOL. SASAC playing the role of acitivist investors?
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At least I won't have to post on industrial profits YTD in December, it'll be +9%, right?
