Home>News Center>China
       
 

Calls for law to curb losses in SOE assets
(China Daily)
Updated: 2005-03-10 06:27

With hemorrhages of State assets causing growing public concern, a National People'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.

Ma said that SOE reforms over the past two decades have effectively revived SOEs. But in the meantime, the State loosened its supervision of many enterprises, leading to problems such as selling State assets at low prices, insiders' controlling them and increasing bad-loans at banks.

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.

This will help uncover and prevent non-standard activities and corruption, provide more accountability to people found to be faking accounts and weaken insider control.

Ma said that SOEs are owned by the public, which means the public has a right to receive timely information about such enterprises.

According to Ma, the law should require SOEs to disclose information through the media and their own websites. Detailed information should be provided to their employees.

Heads of SOEs and accounting firms auditing the enterprises' financial statements should hold managers accountable as to the reports' authenticity, timeliness and accuracy.

SOEs releasing inaccurate information or failing to disclose information in a timely manner should be fined by the SASAC, while responsible persons should face criminal charges, the deputy suggested.

(China Daily 03/10/2005 page3)



 
  Today's Top News     Top China News
 

People's congress prepared to 'fulfil history'

 

   
 

Lenovo wins US nod to buy IBM PC

 

   
 

Corrupt officials seized and punished

 

   
 

State banks urged to reform with gov't input

 

   
 

41 corpses found in Iraq; blast kills four

 

   
 

China hints at death penalty reform

 

   
  Taxes form east to pay for rural social programs
   
  SOEs asset write-offs cost country dear
   
  Medical sector in dire need of changes
   
  China hints at death penalty reform
   
  Education void expands wealth gap
   
  Chinese firms join Galileo project
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 精品视频一区二区三区在线播放 | 国产香蕉精品视频| 色婷婷亚洲一区二区三区| 男女激烈试看120秒动态图| 欧美性色19p| 色噜噜狠狠一区二区三区| 精品一区二区三区在线观看视频| 欧美精品第一页| 无翼乌全彩之大雄医生| 在线观看的网站| 国产偷久久久精品专区| 国产大片91精品免费观看男同 | 色黄网站aaaaaa级毛片| 色妞www精品视频一级下载| 香港黄页精品视频在线| 精品丝袜国产自在线拍亚洲| 欧美卡一卡2卡三卡4卡在线| 欧美任你躁免费精品一区| 护士撩起裙子让你桶的视频| 国产色视频在线| 国产精品亚洲四区在线观看| 国产00粉嫩馒头一线天萌白酱| 亚洲精品成人片在线播放| 亚洲成人在线网| 中文字幕色网站| 18禁男女无遮挡啪啪网站| 老师好长好大坐不下去| 精品久久亚洲中文无码| 用我的手指搅乱吧未增删翻译| 晓雪老师下面好紧好湿| 日本特黄特黄刺激大片| 成人黄色免费网站| 国产精品午夜无码av体验区 | 国产天堂在线观看| 亚洲欧美日韩中文无线码| 中文字幕在线视频免费| jizz黄色片| 菠萝菠萝蜜在线免费视频| 欧美在线一卡二卡一卡3卡4卡5| 思思久久99热只有频精品66| 国产开嫩苞实拍在线播放视频|