China mulls legal framework over state assets supervision

BEIJING -- Chinese lawmakers on Tuesday began deliberating a draft decision on improving the legal system regarding state assets supervision.

The draft decision was submitted to the ongoing session of the Standing Committee of the National People's Congress. It aims to provide a legal guarantee for promoting the modernization of state assets' governance systems and capacity.

It stipulates that the State Council should ensure sound work on the state assets' annual management reports through comprehensive and specific reviews.

It also requires the State Council to establish and improve a rectification and accountability system for state assets and improve follow-up supervision.