As a result, the companies to be privatized now represent only about 6 percent of state industry, he said.

Nearly every major state industry is now headed by a senior government official.

In 1992 the voters rejected a referendum to sell off state industries.

But if the state industries can raise their own money, can anyone really then tell them what to do with it?

Shares in some state industries have been offered to employees.

The policy has been the cornerstone of China's efforts to revive state industry over the past five years.

The Government is selling all of its state industries, which were losing $5 billion a year.

This would mean selling about one-third of Brazil's 188 state industries.

Funds for the measure would come from selling off state industries, they said.

The province has seen a decline in state industry from 2000 to 2007.