China state arms maker pledges 'mixed ownership' reforms

The China North Industries Group (Norinco), a central government-run arms manufacturer, has decided to pursue a "mixed ownership" model as part of China's ambitious reform programme for state-owned enterprises (SOEs), the company said. Norinco describes itself as a "backbone" for the development of weapons and military-use communications equipment in China. It said it would close down the most uncompetitive firms and reform the ownership structure of those that remained.