China to Review Overseas State-Owned Assets

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Aug. 11- China’s National Audit Office (NOA) has set-up two departments tasked to review state-owned companies and their overseas national assets.

These departments will examine the companies’ fiscal revenue and social security funds in addition to establishing links with other international audit organizations.

In a statement, the NOA said, “The office will also pay more attention to funds concerning key resources and energy as well as environmental protection.”

NOA has been subject to institutional reorganizations since 1998. The recent changes include ending examination of local audit regulations and the supervision of certain audit reports by social audit institutes.