China said it will ban or closely monitor overseas investments by state-owned firms in certain sectors, the latest move in a government fight to stem capital flight and what it has called "irrational" spending abroad.
The state-assets watchdog, which manages the country's 102 state-owned giants, plans to draw up a list of sectors that will either be off-limits to investmentRead more
China recently adopted new guidelines to strengthen protection of property rights. The guidelines are an important step toward ensuring long-term economic growth.
But there is more to be done.
The guidelines aim to advance three key objectives. First, they limit the government’s discretionary ability to take private property from entrepreneurs and private citizens. In the past, the law defined theRead more
The China Building Materials Group was officially established on Friday following the merger of two state-owned enterprises (SOEs) under the direction of the state assets watchdog.
With total assets of 550 billion yuan (82.7 billion U.S. dollars), the new company is China's largest building materials SOE and is regulated by the State-owned Assets Supervision and Administration Commission (SASAC).
The newRead more