China's largest free trade zone operator to inject realty assets to listed arm
2009-07-22 02:42:07 GMT2009-07-22 10:42:07 (Beijing Time) Xinhua English
BEIJING, July 22 (Xinhua) -- Shanghai Waigaoqiao Group, China's largest free trade zone operator owned by the Shanghai municipal government, will inject its remaining real estate assets into its publicly traded unit, the Shanghai Waigaoqiao Free Trade Zone Development Co, reported Wednesday's China Daily.
The move follows the restructuring in June 2008 when the Shanghai-listed unit acquired a string of assets, including properties and logistics services, for 4.47 billion yuan (638.6 million U.S. dollars) from three other group affiliates in a shareswap.
These assets constituted a major share of Waigaoqiao Group's core businesses and accounted for 82 percent of the company's total income.
The latest asset transfer is seen to be in line with the local government's urge to reform the State-owned enterprises through assets injection and equity acquisition, said the newspaper, citing an unnamed senior manager of the group.
The restructuring anticipation has raised the share price of Waigaoqiao Free Trade Zone by more than 14 percent in the past three months to close at 16.12 yuan on Tuesday.

中国最大的保税区运营商获地产注资
新华社北京7月22日电：据中国日报星期三报道称，上海市政府所属的中国最大的自由贸易区运营商--外高桥集团，将向其上市公司—上海外高桥保税区开发股份有限公司注入房地产资产。
这项举措是2008年6月启动的重组方案的延续，当时该上市公司从集团下属的三个子公司以交叉持股方式收购了包括房产及物流服务在内的一系列资产，总值约合人民币44.7亿元（约6.386亿美元）。
这些资产原属外高桥集团的主要核心业务，占集团年总收入的82%。
报纸援引未透露姓名的一位该集团高层人士称，目前的资产转让举措是符合当地政府要求的旨在通过资产注入和股权收购方式来加快国企改革政策的。
在过去的三个月里，市场对该重组预期使外高桥保税区公司的股价上涨了14%之多，截止星期二收盘价达到了16.12元。