China has strengthened its regulatory framework for state-owned asset transactions with the issuance of revised operational regulations, aimed at improving efficiency of asset circulation and allocation.
According to the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, the new rules will further regulate the transaction of state-owned assets while effectively preventing asset loss.
The new regulations clarify key points for selecting investors during the capital increase process, specify methods for reducing transaction prices, optimize transaction procedures, shorten transaction cycles, and lower transaction costs.
The rules outline the main processes of state-owned asset transactions, including decision approval, information release, and completion of transfer, as well as the basic content of transaction contract terms.
They also address requirements related to avoidance of related parties, use of names and trademarks, confidentiality obligations, document retention, and the rights and obligations of all parties involved in the transactions.
China strengthens oversight of state-owned asset transactions
Industries based on the BeiDou Navigation Satellite System (BDS) are likely to see their scale top 1 trillion yuan (about 144.9 billion U.S. dollars) in five years, according to China's National Development and Reform Commission (NDRC). Currently, the BeiDou Satellite Navigation System has entered a phase of rapid development featuring market operation, industrial application and international cooperation.
BeiDou's high-precision services are employed across various fields, including transportation, logistics, agricultural machinery, and deep-sea fishing. Additionally, its short message service offers a reliable backup for emergency response and disaster relief.
The NDRC stated that during the 15th Five-Year Plan period, China will continue to implement the project for large-scale application of BeiDou and strive to expand the Beidou industry's scale to exceed 1 trillion yuan within five years.
In the future, China will continue to foster the development of new BeiDou technologies and products, implement major projects for the large-scale application of BeiDou by expanding its use in consumer markets, public services, and emerging fields such as autonomous driving, the low-altitude economy, and intelligent robotics, as well as enhance the quality of international services to provide secure and user-friendly public services to more countries around the world.
China's BeiDou industries to exceed 1 trillion yuan in 5 years
China's BeiDou industries to exceed 1 trillion yuan in 5 years
