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A senior China official has encouraged Volkswagen to eventually list its two joint ventures in the country, a move that would signal the first share-market debut by a major multinational firm.
State Asset Supervision and Administration Commission chief, Li Rongrong, made the suggestion to the German automaker's China President, Bernd Leissner, during his visit to Beijing last week.
Li Rongrong says restructuring and public listing could be a way for Volkswagen's two joint ventures to improve their corporate governance.
So far, only a few joint ventures have been listed on China's capital market.
If a Volkswagen unit goes public, the move could open the door to other major multinational companies joining China's stock market.
(CRI.com January 21, 2005)
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