{"id":2197,"date":"2005-03-10T13:15:39","date_gmt":"2005-03-10T20:15:39","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/2005\/03\/10\/calls-for-law-to-curb-losses-in-soe-assets\/"},"modified":"2005-03-10T13:15:39","modified_gmt":"2005-03-10T20:15:39","slug":"calls-for-law-to-curb-losses-in-soe-assets","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2005\/03\/calls-for-law-to-curb-losses-in-soe-assets\/","title":{"rendered":"Calls for law to curb losses in SOE assets"},"content":{"rendered":"<p>\nFrom <a href=\"http:\/\/www.chinadaily.com.cn\/english\/doc\/2005-03\/10\/content_423591.htm\">China Daily<\/a>:\n<\/p>\n<blockquote><p>\nWith hemorrhages of State assets causing growing public concern, a National People&#8217;s Congress (NPC) deputy has called for legislation on full information disclosure by State-owned enterprises (SOE) to fight corruption.Ma Weihua, president of China Merchants Bank, made the proposal at the ongoing session of the NPC.<\/p>\n<p>Without a law in place, it is too difficult for the State-owned Assets Supervision and Administration Commission (SASAC) to supervise the 181 key State firms with assets that amount to nearly 9.2 trillion yuan (US$1.1 trillion).A SASAC inspection of such firms last year found that 40 firms suffered a 10 per cent loss in total assets, while another 40 reported 20 per cent losses. Many were discovered to have problems in their accounting practices and financial reports. A law to require SOEs to disclose information in a timely and correct manner will place activities of SOEs and their high-level managerial leaders under the supervision of employees and the public.\n<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>From China Daily: With hemorrhages of State assets causing growing public concern, a National People&#8217;s Congress (NPC) deputy has called for legislation on full information disclosure by State-owned enterprises (SOE) to fight corruption.Ma Weihua, president of China Merchants Bank, made the proposal at the ongoing session of the NPC. Without a law in place, it [&hellip;]<\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[10],"tags":[4117],"class_list":["post-2197","post","type-post","status-publish","format-standard","hentry","category-law","tag-state-owned-enterprises","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Calls for law to curb losses in SOE assets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2005\/03\/calls-for-law-to-curb-losses-in-soe-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Calls for law to curb losses in SOE assets\" \/>\n<meta property=\"og:description\" content=\"From China Daily: With hemorrhages of State assets causing growing public concern, a National People&#8217;s Congress (NPC) deputy has called for legislation on full information disclosure by State-owned enterprises (SOE) to fight corruption.Ma Weihua, president of China Merchants Bank, made the proposal at the ongoing session of the NPC. 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