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China Zhongwang Holdings Ltd based in Liaoning province saw its sales volume increase by 4.9 percent year-on-year to 960,000 tons in 2019, the aluminum manufacturer said in a statement released on Friday.

China Reinsurance Co Ltd data showed serious illness insurance and short-term medical insurance has been growing at 30 percent to 80 percent per year in the last five years and is expected to grow at double digit rates at least for the next three to five years.

China Chengtong itself is an example of the evolution of China's SOEs along the country's transformation from a planned to a market-oriented economy. The company has evolved from a loss-making SOE that managed the country's production assets and logistics in the 1990s into the country's leading equity investment firm responsible for operating and restructuring state assets.

China Railway Corp, the country's railway operator, aims to complete corporate system reform of its non-transportation businesses in the first quarter of 2018, said a source at one of these subsidiaries on Thursday.

China Daily sought a comment from Carolyn Shields, the attorney for Shou-Kung and his son, but she could not be reached.