A new agency to strengthen oversight and risk prevention for overseas State-owned assets was launched on April 10.
The new Bureau of Overseas State-owned Assets is responsible for guiding the international operations of central State-owned enterprises (SOEs), optimizing their overseas asset allocation, supervising overseas assets and mitigating risks associated with cross-border investment and operations. It also handles overseas emergencies and crises, according to the State-owned Assets Supervision and Administration Commission of the State Council.
Experts said the new bureau is expected to replace the former fragmented oversight with a full-chain, professional regulatory framework, a critical upgrade as central SOEs are going deeper in international markets, while the international landscape is becoming more complex. Experts think the new agency is expected to release more detailed measures, such as an overseas investment negative list and a joint response mechanism for overseas emergencies.
Official data showed that by February 2021, combined overseas assets of SOEs have exceeded 8 trillion yuan (US$1.12t) among more than 180 countries and regions.
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