Selling Chinas Industry: Going, Going, Gone.

Government-owned Chinese companies continue to be sold, with the government specifically inviting foreign bids. The northeastern province of Heilongjiang will offer 1,000 small- and medium-sized firms to local and foreign bidders in June, reports Beijings official Workers Daily. During the last two months more than 1,000 companies have been put on the market in Shenyang, the capital of Liaoning. The zell to sell is coming from newly appointed Chinese Premier Zhu Rongji, who has pledged to privatize much of the state-owned industrial sector within three years.

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