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
U.S. Marines detain man in Los Angeles

WATCH: US Marines Carry Out First-Known Detainment of Civilian

Minnesota Rep. Melissa Hortman and Sen. John Hoffman

Minnesota Lawmakers Shot By Police Impersonator in 'Targeted' Attack

WATCH: Truck Driver Taunting Anti-ICE Protesters Gets Instant 'Karma' as

WATCH: Truck Driver Taunting Anti-ICE Protesters Gets Instant 'Karma' as He's Arrested, Truck Towed

Mother Murdered Daughter_06122025_1

Mom Falsely Claimed Her Daughter Was Kidnapped. Now She Faces Murder Charges After Police Found a Child's Body