China STMA to Spin off Non-tobacco Business

12/12/2008

China's State Tobacco Monopoly Administration (STMA), the watchdog of China's tobacco industry, begins to spin off non-tobacco business. STMA is selling 9 non-tobacco companies shares on equity exchange. According to sources near tobacco industry, national tobacco industry owns near 60 billion yuan non-tobacco assests. Tobacco industry will focus on tobacco business. Enditem