China moves to optimize state assets supervision

BEIJING -- China's top state assets regulator said Wednesday that the country will strengthen state assets supervision with priority on capital management.

"The supervision will focus on capital management instead of individual enterprises," Weng Jieming, deputy head of the State-owned Assets Supervision and Administration Commission, told a press conference.

The SASAC has recently unveiled a document on the state assets supervision system, outlining a supervision concept, target and measures.

More market-oriented and law-based measures will be used to enhance the quality and efficiency of state-owned assets, said Weng.

Efforts will be made to optimize the supervision system, streamline administration and delegate power to stimulate the vitality of enterprises, Wend added.

The SASAC guides and pushes forward the reform and restructuring of state-owned enterprises, advances the establishment of modern enterprise systems in SOEs, improves corporate governance and propels strategic adjustment of the layout and structure of the state economy.