CHINA: Production by China’s state-owned industries rose...
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CHINA: Production by China’s state-owned industries rose 16% in January and February over the first two months of 1990, according to the official China Daily. The release of production figures coincides with other official reports of a plan to merge large state-run factories into about 100 conglomerates, part of a plan designed to invigorate weak factors by placing them within the same management structure as strong operations. The initiative is seen as the newest effort by hard-line Communists to regain powers that were delegated to provincial and city officials during the 1980s, a decade of economic reform in China. The Chinese government is expected to release details of the merger plan this week.
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