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China's SOEs face 'red line' on investment
China will draw a "red line" that forbids its 102 major State-owned enterprises from investing overseas in real estate, iron ore, petroleum and nonferrous metal, the country's top State-owned assets regulator said on Wednesday. As part of the country's SOE reforms, the State-Owned Assets Supervision and Administration Commission released two documents to further clarify SOEs' investment direction, procedures, risk control and accountability in domestic and overseas markets. Huang Danhua, vice-chairwoman of the SASAC, said the commission will establish a negative list to set the categories for industries that ... (full story)