China may inject capital into state-run companies that incurred heavy losses from the May 12 earthquake, the China Securities Journal reported, citing the state-owned Assets Supervision and Administration Commission.
The SASAC will consider recapitalizing companies affiliated with the central government that suffered after the quake in southwestern Sichuan, the newspaper reported on its Website on Saturday, citing Liu Nanchang, deputy performance assessment director of SASAC. The money will come from returns on SASAC stakes in state-owned companies, he added.
Total quake losses at the so-called centrally administered companies exceeded 80 billion yuan (US$11.7 billion), said the newspaper, run by the official Xinhua news agency.
State Grid Corp of China, Dongfang Electric Co, Panzhihua Iron & Steel Group were among the most seriously affected, it said.
(Shanghai Daily July 7, 2008)
