Restructuring is another name of power consolidation. For Chairman Xi Jinping, the Year of the Ram is one of good harvest.
The telecommunication industry is most telling. This is a sector which has long rumoured to be the turf of his rivals.
In June 2014, under order of the central government, the countrys three telcom giants agreed to inject their telecommunication towers and all related assets into a new entity named China Tower Group.
The deal was swiftly completed before that years Lunar New Year.
The companies said this would reduce duplicating construction and bring about other savings. Academics said this would reduce the trios strategic importance and free them for further reform, including stake sales to private hands.
Soun…
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