Reports on SOEs will boost transparency

The State Council, China's cabinet, will report annually on the management of State-owned assets to the Standing Committee of the National People's Congress, a vital way to boost transparency and maintain the values of such assets, according to a guideline released on Sunday.

The assets should include those of State-owned enterprises - including financial assets and natural resources - and especially assets used in China's outbound foreign investments, according to the guideline.

The management system of State-owned assets should be improved during restructuring, and strategic mergers for the State-owned economy should be accelerated to maintain and increase the value of these assets, Xi Jinping, general secretary of the Central Committee of the Communist Party of China, said in the report to the 19th CPC National Congress in October.