State-owned restructuring pace quickens

SHANGHAI: The local government is seeking to speed up restructuring of Shanghai's State-owned enterprises by pushing them to go public, Shanghai Vice-Mayor Ai Baojun said yesterday.

The city is targeting a securitization ratio of up to 90 percent for State-owned companies, Ai said on local radio. Ai didn't elaborate on when the target would be reached.

Securitization is the process by which a company packages its financial assets and then markets them to investors.