Liaoning province in China's northeast will fully open the local state-owned enterprises, except those in coal industry, to foreign investors from the latter half of the year. The existing policy does not allow foreign capital to control large state companies.

The province plans to invite foreign capital to participate into 200 projects in the latter half of the year. A batch of state large and medium sized enterprises, in particular, are expected to be acquired with foreign fund. Some large businesses with comparative advantages, such as the Shenyang Machine Tool Co., Ltd., and the Northeast Pharmaceutical Group, are on the list.

Li Wancai, Vice Governor of Liaoning, said foreign investors are welcome to hold shares, control or even buy out these enterprises and there will be no limits on equity ratio.

By People's Daily Online