Top legislators on Thursday met for a third time to discuss a newly-revised draft law designed to improve supervision and management of state assets in both financial and non-financial businesses.
It prescribed state-owned assets in both financial and non-financial sectors should be put under supervision. It didn't include state-owned administrative and resource assets.
The draft law of enterprise state-owned assets was submitted to the fifth session of the Standing Committee of the 11th National People's Congress for a third reading.
Li Shuguang, a China University of Political Science and Law professor and a member of the draft team, said it was a big step forward to cover state-owned financial assets in the paper.
Currently, the State-owned Assets Supervision and Administration Commission (SASAC) is responsible for watching over146 state-owned business giants. State-owned financial institutions such as banks are under the supervision of the Ministry of Finance and the central bank.