China has unveiled new plans to partially privatize the country's industrial champions, including the state railway system and a weapon maker, but concerns remain whether Beijing is seeking a real change in its bloated state sector or just using a new trick to lure money to fill a financial black hole. China Railway Corporation, which runs the world's largest high-speed railway network, said it would spin off some businesses to allow private investors to participate, following a "mixed ownership reform" plan announced by China North Industries Group, the country's key military equipment maker. While these assets ... (full story)