>China State-owned firms to shed hotel assets

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>China’s tourism industry may benefit from a government directive ordering State-owned enterprises to shed their hotel assets and focus on their core businesses.

Tourism officials have expressed a strong interest in purchasing some of the government’s hotels, as the plan unfolds over the next three to five years.

The State-owned Assets Supervision and Administration Commission (SASAC) made the announcement late on Monday, which involves an estimated 100 billion yuan in hotel assets.

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