Seven railway bureaus kick off corporate reform
According to guidelines, the railway bureaus will be transformed into single-member limited liability companies, fully funded by China Railway
Seven out of 18 railway bureaus under the administration of China Railway Corporation, the national railway operator, have begun the process of reform toward restructuring to a company system, The Paper reported.
The seven railway bureaus include Shenyang, Taiyuan, Zhengzhou, Nanchang, Nanning, Kunming and the Qingzang Railway Bureau.
At least four directors of the railway bureau have changed their titles to “chairman,” and also added a new position of “general manager.”
According to guidelines for corporate reform issued by China Railway in September, these railway bureaus will be transformed into single-member limited liability companies, fully funded by China Railway.