Equity analysts are unearthing potential stock market beneficiaries as China steps up reform of its bloated state-controlled companies, including Hong Kong-listed units of China Telecom, Sinopharm and China National Building Materials CNBM.
China is overhauling its state-owned enterprises SOEs to make these linchpins of the economy more efficient, including potentially introducing private capital and discipline into all sectors.
The government has said it may relinquish control of SOEs to the private sector in the so-called pillar industries of autos, equipment manufacturing, iron and steel, surveying and design, construction, IT, non-ferrous metals and chemicals.
“Introducing private sector ownership at...
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