Interviews
China's cotton reserves company merges into Sinograin
30 Nov '16
1 min read
The China National Cotton Reserves Corporation (CNCRC) will become a wholly-owned subsidiary of China Grain Reserves Corporation (Sinograin), the state-owned Assets Supervision and Administration Commission (SASAC) has announced. CNCRC is a state-owned company which purchases cotton as a reserve stock, and later sells in market at pre-announced prices.
“CNCRC will no longer be under the direct supervision of SASAC,” the statement from SASAC said. The merger is part of the reorganisation of state-owned companies in a bid to reduce costs, raise efficiency and make them more competitive. (RKS)
Fibre2Fashion News Desk – China
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
