More transparent reporting will help supervise and secure national assets

IN A BID TO IMPROVE TRANSPARENCY, the State Council, China's Cabinet, is to report on an annual basis to the Standing Committee of the National People's Congress, China's top legislature, about the State-owned assets it manages. Beijing News commented on Thursday:

The move, which is in line with the interests of the people, contributes to better management of public property, and it will enable the NPC Standing Committee to check on the security of the nation's assets as required by the Constitution.

These State-owned assets belong to a variety of departments and exist in various forms at home and abroad. Despite the State Council's efforts to strengthen its management in recent years, the loss of State assets remains a problem, as some people have found loopholes in which to transform public assets into personal assets while escaping punishment.