China steps up moves to tackle risky trading at key state-owned firms -sources
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BEIJING : China is drafting new rules for its central state-owned companies in an effort to crack down further on certain kinds of high-risk trading activity, several people briefed on the matter said.
The state assets regulator outlined the rules and sought opinions on them from about a dozen firms invited to a meeting last month, according to a notice seen by Reuters.
The State-owned Assets Supervision and Administration Commission (SASAC), which oversees almost 100 companies, did not respond to a request for comment.
China National Offshore Oil Corporation (CNOOC), Sinopec, China National Petroleum Corporation, China Railway Construction Group Corporation and China North Industries Group Corporation - state firms that were invited to the meeting - also did not immediately respond to requests for comment.
