BEIJING : China's state-owned enterprises must strengthen their management of investments in sectors such as property, finance, overseas mergers and acquisitions, and projects in high-risk nations and areas, the country's state assets regulator said.
Taking on debt beyond their ability to repay in order to invest is strictly prohibited, Chinese financial news outlet Yicai cited Weng as saying on Tuesday at an SOE meeting. Last month, China's top anti-graft watchdog identified a host of problems such as inadequate financial supervision, after a months-long inspection of 25 institutions including stock exchanges and commercial lenders.
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