Taizhou inaugurates the first prefecture-level State-owned assets operation alliance in East China's Zhejiang province on July 27. [Photo/WeChat account: tzfb001]  

Taizhou inaugurated the first prefecture-level State-owned assets operation alliance in East China's Zhejiang province on July 27, local media reported.

The alliance is positioned to boost pragmatic cooperation and exchanges among the city's State-owned enterprises.

Activities like roundtables, salons, and forums will be organized by the alliance, with the aim of helping local State-owned companies improve their operating capital capability.

Efforts will be made to promote the sharing of resources among them. An information sharing platform will be created, providing a platform for the alliance members to expand business cooperation. 

The body's establishment comes as part of local authorities' efforts to tackle problems facing local State-owned enterprises like small scale and weak operational capability.

On the same day, Shanghai State Capital Operation Research Institute and Taizhou State-owned Capital Operation (Group) Co Ltd signed a strategic cooperation agreement to jointly set up a state capital and State-owned enterprise reform research base.