State asset rules greeted

Legal experts welcomed new rules published on Wednesday on the punishment of managers of State-owned enterprises responsible for huge losses of State assets.

But the rules still need to be made more practicable in order to properly safeguard the assets, worth around 30 trillion yuan, they agreed.

Senior executives of China's 147 centrally administered State-owned enterprises (SOEs) will face a permanent ban from their management posts or even be kicked out of their company if found responsible for severe losses, the State-owned Assets Supervision and Administration Commission (SASAC) said in a statement.