State assets law under NPC review

    By Xin Zhiming (China Daily)
    Updated: 2007-12-24 07:06

    The eagerly anticipated draft law on State assets was submitted to the national legislature for the first reading Sunday.

    Lawmakers at the 31st session of the 10th National People's Congress (NPC) Standing Committee, which runs until Saturday, are reviewing a draft of 14-year-old legislation in order to clearly define which departments and ministries can invest in State firms.

    China's reform of State-owned enterprises has made much headway, said Shi Guangsheng, vice-chairman of the Financial and Economic Committee of the NPC, but "quite serious" abuses and losses of State-owned assets have aroused deep concerns among the public.

    China now boasts a colossal 29-trillion yuan ($3.94 trillion) worth of State assets, excluding financial enterprises, while net assets stand at 12.2 trillion yuan ($1.66 trillion).

    "It is necessary to draft such a law to manage such vast State assets," said Zhang Xiaowen, economist from the economic system and management institute of the National Development and Reform Commission.

    The draft law will not govern all types of State assets, just operational assets, as in contrast to resource assets like land, forest and assets owned by public institutions and government agencies not for business purposes.

    Management methods of the three types of assets vary, making it hard to use a single law to accommodate them, the NPC's Shi told lawmakers.

    Those government departments that can invest in state firms include the State-owned assets supervision and administration agency under the State Council (SASAC), local agencies and other departments the government has authorized to manage State assets, such as the Ministry of Finance.

    "The role of SASAC has been in the spotlight during the law-making process," said Li Shuguang, a senior law professor with the China University of Politics and Law.

    SASAC, which represents the State in 152 major State enterprises, has played a dual and often dueling role as both supervisor and investor, he said.

    The draft law has, in reality, defined it as a pure investor, although it has not explicitly spelled it out, Li said.

    It has shifted the role of supervision to the people's congress at all levels - the State Council and local governments, the auditing departments and the public.

    Apart from those 152 firms managed by the SASAC, China's State assets also include financial enterprises, a large number of local State companies and more than 5,000 enterprises managed by central ministries, Li said.

    "Their management should also be independently and effectively supervised," he said before suggesting a special State asset supervision bureau be set up under the Ministry of Supervision to play that role.



    Top China News  
    Today's Top News  
    Most Commented/Read Stories in 48 Hours
    人妻精品久久久久中文字幕| 久久精品?ⅴ无码中文字幕| 国产亚洲精品无码成人| 日本久久久精品中文字幕| 国产在线拍揄自揄拍无码| 亚洲日韩VA无码中文字幕| 日韩精品无码永久免费网站 | 久久精品亚洲中文字幕无码麻豆| 久久久中文字幕| 精品无人区无码乱码大片国产| 一本色道无码不卡在线观看| 超清无码无卡中文字幕 | 97免费人妻无码视频| 精品多人p群无码| 最近最新高清免费中文字幕 | 日本精品久久久中文字幕| 久久影院午夜理论片无码| 日韩欧精品无码视频无删节| 人妻无码精品久久亚瑟影视 | 久久中文字幕无码专区| 最新中文字幕AV无码不卡| 亚洲精品无码不卡| 黄A无码片内射无码视频| 亚洲成AV人片在线播放无码| 免费无码又爽又刺激网站直播| 最近免费中文字幕大全免费 | 亚洲欧美精品综合中文字幕 | 日韩免费码中文在线观看| 亚洲日韩中文无码久久| 乱人伦中文视频在线| 一区二区三区无码高清| 无码AV一区二区三区无码 | 国产精品无码久久综合网| 免费无码毛片一区二区APP| 无码专区中文字幕无码| 色窝窝无码一区二区三区 | 亚洲精品成人无码中文毛片不卡| 无码国产成人午夜电影在线观看| 国产真人无码作爱免费视频| 国产三级无码内射在线看| 东京热无码av一区二区|