Will Yancheng form a new state-owned enterprise?

No new state-owned enterprises will be formed and adjusted. According to official website, Yancheng Municipal People's Government, according to the unified arrangement of the municipal party committee and municipal government on the reform and reorganization of state-owned enterprises, through research, the organizational system of some municipal state-owned enterprises is now adjusted: the organizational system of Yancheng Kanto Economic Development and Investment Co., Ltd. is abolished. Cancel the establishment of Yancheng Xintan Economic Development and Investment Co., Ltd., a municipal first-class enterprise. Cancel the establishment of Yancheng Transportation Holding Group Co., Ltd. as a second-class enterprise. Yancheng Railway Investment and Development Co., Ltd. will be adjusted from a municipal first-class enterprise system to a municipal second-class enterprise system.