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Regulator calls for better compliance management of central SOEs

Updated: May 30,2018 9:08 PM     Xinhua

BEIJING — China’s centrally administered State-owned enterprises (SOEs) should raise their awareness of compliance management when doing business overseas, the state assets regulator said.

Central SOEs should enhance their abilities in compliance risk prevention and improve overall risk control mechanisms, Xiao Yaqing, head of State-owned Assets Supervision and Administration Commission, said on May 29 at a meeting on overseas risk prevention for central SOEs.

The companies should further improve their international operations via means including strengthened oversight of overseas projects and unified management mechanisms, Xiao said.

Central SOEs should be determined and confident in “going out,” and strive to become internationally competitive companies via cooperation and opening-up, according to Xiao.