Number of central SOEs nearing 100

Sinolight, Poly agree to merge, signal boost to efficiency

China moved one step closer to reducing the number of centrally administered State-owned enterprises to 100, after Sinolight Corp agreed to merge with China Poly Group Corp.

China Haisum Engineering Co Ltd, a listed arm of Sinolight, said in a regulatory filing that the latter had signed a restructuring framework agreement with property group China Poly.