China to audit overseas assets of state-owned firms

By

The Chinese government will audit the overseas assets of state-owned enterprises, the regulator announced, as it tries to improve transparency and combat corruption.

The State-owned Assets Supervision and Administration Commission said late on Tuesday that it had issued a tender for the audit, in what state media said was the first time such a tender had been offered.

Companies who wish to apply must be incorporated in China and have Chinese government licenses, the regulator said, adding that the results of the tender will be announced on April 7.

The only other details provided were technical ones about the bidding process.

The official Xinhua news agency said earlier this month that China does not audit the 4 trillion yuan ($637.42 billion) of assets its state-owned enterprises hold overseas, highlighting difficulties the government faces when expanding its anti-corruption drive.

Tags
China
Join the Discussion
More News
ohio mother dish soap baby

Ohio Mother Who Enraged Internet In Viral Video Where She Appeared To Squirt Dish Soap In Baby's Mouth Arrested

nypd chief jeffrey maddrey

NYPD Chief Accused of Demanding Sex From Subordinate In Exchange for Extra Pay Opportunities Resigns

dog murder victim bones

A Dog That Discovered the Skull of a Murder Victim Months Ago Just Came Home With Another Human Bone

De'Anthony Trice

Kentucky Dad Punched His Newborn in the Head Because He Was Losing a Video Game

Real Time Analytics