Bright Food to reform

An executive of China's leading food and beverage manufacturer, Bright Food (Group) Co Ltd, said on Wednesday that the company will securitize its assets to more than 50 percent, news portal qq.com reported.

Zhuang Guowei, vice president of the State-owned company, said that the firm recently handed its reform plan to the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government.

"Asset securitization will be the key of our reform," Zhuang was quoted as saying by qq.com. "Bright Food will not just bring in strategic investors, but will deepen its reform through listing its assets."

Now, 20 percent of the firm's shares are listed, Zhuang added.