Chinese SOEs can manage B&R investment risks: official

BY  | FROM  | 2017-05-10 15:06

Risks facing China's state-owned enterprises (SOEs) investing in the Belt and Road (B&R) region are generally controllable, a senior official said Monday.
Both domestic and international investments face risks and SOEs continue to make progress in overseas expansion by learning from previous mistakes, said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission (SASAC).
Over the last three years, 47 Chinese SOEs supervised by the SASAC have taken part in 1,676 projects in countries and regions along the B&R spanning energy, infrastructure and industrial cooperation.
To reduce risks, SASAC and SOEs have taken many steps to improve analysis, prevention and removal of risks, Xiao said, adding that they look forward to more cooperation with international companies and organizations.
Investment in the B&R region is coordinated. SOEs have their own plans and are increasing supervision of the decision-making process for overseas projects by including more stakeholders, he said.
Those violating regulations and causing losses through indiscriminate investment will be held accountable, he added.

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