Shanghai’s Huangpu district government issued a 15th Five-Year state-asset and
SOE reform plan to boost asset operation and financing. The plan backs lawful
use of capital-market refinancing to strengthen supply chains, calls for
activating existing assets, and seeks to build a receive–revive–inject model
that injects eligible assets into district SOEs and listed companies to improve
operating efficiency and open asset, funding and capital channels. It mandates
strengthening the state-asset management platform and partnering with specialists
firms to use bad-asset acquisition/disposal, substantive restructurings and
market-based debt-to-equity swaps to unlock idle or low-efficiency assets. The
The plan also encourages district firms to securitize assets and study REITs backed
by commercial complexes, industrial parks and affordable rental housing to raise
state capital securitization levels.
