27 Nov China’s COFCO to control state food firm Huafu in efficiency drive
Posted at 10:04h
BEIJING Nov 27, 2014 (Reuters) – China’s top agribusiness firm COFCO will take control of fellow state-owned firm China Huafu Trade and Development Group, a regulator said late on Wednesday, as part of Beijing’s reforms to boost the efficiency of the state sector.
COFCO, the China National Cereals, Oils and Foodstuffs Corp, is one of a handful of companies chosen to lead the reforms. It has greater autonomy than most state-owned companies and is mandated to be more market-oriented.