Northeast China's Jilin Province plans to transfer the stock rights of its 100 state-owned enterprises (SOEs), which are valued at 40.8 billion yuan (about 4.9 billion US dollars).

The stock rights will be sold at the 2005 Jilin SOE Stock Right Transfer Fair, which opened Thursday in the provincial capital, Changchun.

More than 800 state enterprises will carry out reform through stock rights transfer. The assets of the 100 enterprises, with 156,000 staff, account for 43.9 percent of the total.

The stock transfer is part of Jilin's state-owned enterprise reform plan and the central government's strategy of revitalizing the old northeast industrial base, said Wei Lichang, director of the Jilin provincial economic commission.

At the same time, the provincial government provides 100 industrial programs to attract foreign investment at the fair.

Apart from the stock rights transfer, the province also needs to deepen the SOE reform with the help of foreign capital, the official said.

Source: Xinhua