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SOEs told to beef up scrutiny

By Li Xiang | China Daily | Updated: 2017-08-03 07:50

Ministry's new guideline tightens up requirements on a slew of measures

China has tightened scrutiny of overseas investment by State-owned enterprises, ordering them to improve investment decision-making, strengthen internal auditing and carry out responsible due diligence, according to a guideline issued by the Ministry of Finance on Wednesday.

The SOEs are required to set up proper decision-making systems and to carry out financial feasibility studies on overseas projects before making any investment decision. They are also ordered to send on-site inspection and auditing teams to evaluate overseas projects that involve major losses and risks, the guideline said.

SOEs told to beef up scrutiny

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