BEIJING, Jan.22 (Xinhua)-- State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on January 18 released supervision and management measures on outbound investment of State-Owned Enterprises (SOEs), which has been put into effect from the same day.
Meanwhile, the interim procedures published in 2012 have been abolished on Jan.18.
According to the regulations, SOEs should follow the principles when investing into foreign countries, including focusing on their main business in line with enterprises’ development strategies and international operating programs, and obeying China and investment host country’s laws and regulations, business rules, and cultural custom.
Also, the investment scales of state-owned enterprises should be consistent with their capital strength, financing capacity, industrial experiences, management level, and risk resistance capacity.
Furthermore, the regulations also stipulated issuing negative list of foreign investment projects for SOEs, and promoting classification surveillance for outbound investment projects. Enditem (Edited by Ma Xin, maxin11@xinhua.org)
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