May 21, 2012
Wu Xiaoguang, newly-appointed CEO of Chinese Internet firm Tencent's (0700.HK) subsidiary Tencent E-Commerce Holdings, has disclosed that the new company plans to use more flexible management system mechanisms and raise additional capital through a possible IPO in order to add value to its parent company.
A source close to China's Ministry of Industry and Information Technology (MIIT) has disclosed that members of a government commission devoted to researching structural reform for China's government ministries are advocating the integration of part of China's Ministry of Science and Technology (MOST) with the MIIT, while another contingent has posed the more radical solution of discontinuing MOST altogether, incorporating it completely into MIIT.
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