China won't abolish its monopoly over tobacco sales, nor is there a plan to list any enterprises in the tobacco producing and selling industry in the stock market.
A spokesman with the State Tobacco Monopoly Bureau says China won't abolish its monopoly over tobacco sales, nor is there a plan to list any enterprises in the tobacco producing and selling industry in the stock market.
He describes as incorrect some recent media reports that China is to cancel the government monopoly over tobacco sales, allow certain large-scale tobacco makers to be listed, and permit the formation of joint venture tobacco firms in certain areas.
The spokesman says China is now actively reforming its management of the tobacco industry, and is expanding technological cooperation with foreign companies. The industry will experience a more open and competitive environment in the future.
(cri.com May 17, 2003)
