UPDATE 1-China plans mergers to cut number of big state firms to 40 - state media
April 27, 2015 at 07:08 AM EDT
BEIJING, April 27 (Reuters) - China will likely cut the number of its central government-owned conglomerates to 40 through a series of mergers, as Beijing pushes forward a plan to overhaul the country's underperforming state sector, state media reported on Monday.