Strict rules to manage overseas assets on cards

The government should quickly work out relevant regulations to better supervise the growing State-owned overseas assets, according to a senior State assets regulator.

"With the implementation of the 'go out' strategy, the scale of the overseas assets held by State-owned enterprises is growing daily, making it imperative to work out the relevant rules to manage these overseas assets in a legal and orderly manner," said Li Wei, deputy director of State-owned Assets Supervision and Administration Commission (SASAC).

Li made the remarks to executives from 24 Chinese companies operating in Singapore and Australia during a recent trip to the two countries in late April. The trip was primarily designed to elicit opinion and suggestions on the proposed overseas assets supervision rules.