As translated from the official website of Chinese government below, it's not difficult to see that SASACs under the uniformed leadership of Chinese Communist Party or Communist Party of China are positively coordinating activities with each other. Local SOEs must be considered as related parties to central SOEs as well as to both local and central governments of China. Investors must pay special attention to whether Chinese enterprises have fully disclosed related party transactions to make an informed decision. On January 9, the State-owned Assets Supervision and Administration Commission of the State Council of China convened a meeting of the heads of the local SASAC and the directors of the office of the local state-owned enterprise reform leading group by video, summarizing the work of state-owned assets and state-owned enterprises in 2021, and clarifying the key tasks in 2022. Hao Peng, Secretary and Director of the Communist Party Committee of the State-owned Assets ...
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