BEIJING, Oct. 23 (Xinhua) -- China's 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
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.
It added an article highlighting the role of employee
representation in improving the democratic management of business.