China plans to shrink state sector further

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China plans to shrink state sector further

The leaders of the Communist Party of China have arrived at a "unified view" on further reducing the weight of the state sector in the economy, according to Fan Hengshan, a senior official of China's State Commission for Restructuring Economic Systems.

Industrial output produced by the private and quasi-private sectors surpassed that of state enterprises for the first time in 1994. The scale of the de-nationalisation scheme, which officials say is still being debated, is expected to be finalised at the Communist Party congress in October.