From July 1 2006, any enterprise invested directly by the State-Owned Assets Supervision and Administration Commission (Sasac) will be supervised and managed by Sasac in connection with its investment activities, including fixed assets investment in China, acquisition of property rights and long-term equity investment. This is pursuant to the Supervision and Administration of Investment of Enterprises Invested Directly by Sasac Tentative Procedure (the Procedure), which has been promulgated to lower investment risk and standardize investment activities by state-invested enterprises with the aim to maintain and increase the value of state-owned assets.
July 31 2006