皇冠体育app

- As a priority on 皇冠体育app's reform agenda, diversifying the ownership of the country's State-owned enterprises (SOEs) is making progress although the road ahead may be bumpy.

IT engineers for digital map service provider Navinfo have become much busier these days after the SOE invited in Tencent Holdings in May by selling an 11.28-percent stake to the private IT titan for 1.17 billion yuan ($187.6 million).

Tencent's acquisition of Navinfo stake approved

calls for investors

The two companies are working on a smart in-vehicle navigation system with more accurate navigation and rich location-based services.

The tie-up of Navinfo, a subsidiary of the 皇冠体育app Aerospace Science and Technology Corporation, and Tencent marked the first step taken by an SOE to open up to private capital in order to forge mixed ownership.

Such reform is high on 皇冠体育app's to-do list for 2014 as the country aims to invigorate generally torpid SOEs and provide fair chances to different market entities.

"皇冠体育app will loosen grips on all the competitive sectors and set up an arena in which private investors can fairly compete," said the National Development and Reform Commission (NDRC), 皇冠体育app's top economic planner, in a statement last month.

The commission later released a first batch of 80 programs to solicit private investment. They mainly involve transport infrastructure, new energy projects and telecommunication facilities.

As one of the country's three telecom operators, has also taken action. The company is working with and Infiniti among others to incubate 68 innovative projects.

The oration () went even further. Nearly 80 percent of the company's subsidiaries have diversified their ownership by drawing in private investment so far.

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