SASAC: Managers of Central Enterprises will be Held Accountable for Mismanagement of Overseas Assets

• Author: Liu Hongxia

On July 1st, the SASAC’s (State Owned Assets and Administrative Commission) blueprint for the "Interim Provisions Concerning Central Enterprises with Overseas State-owned Assets Supervision and Management" and "Interim Provisions Concerning Central Enterprise with Overseas State-Owned Property Rights" began implementation. Documents have made clear that managers of Central Enterprises and their subsidiaries will be held accountable for mismanagements on their part.

As of 2010, Chinese entrepreneurs have set up over 15,000 overseas...