China to turn all centrally owned giants into joint-stock firms by 2017

BEIJING (Reuters) - China will turn all big companies owned by the central government into limited liability firms or joint-stock firms by the end of 2017, the cabinet said on Wednesday.

The restructuring is part reforms to help the state-owned giants to set up flexible and market-based operating mechanism, the cabinet said.

(Reporting by China monitoring team and Kevin Yao; Editing by Shri Navaratnam)