As seeking hidden risks to solve the world's largest raw material market, the Chinese government has proposed that it is stricter than expected commodity trading regulations for state -owned enterprise giants.
Bloomberg quoted people familiar with the matter report that the Chinese government has formulated the new regulations aimed at preventing fraud and preventing officials that officials regarded as wasted by officials.Essence
The new regulations will be applicable to China's huge industrial groups, including Sinopec and China Minmetals Group and other central enterprises.
People familiar with the matter said that these state -owned enterprises will be banned from engaging in commodity transactions that have nothing to do with their core businesses or empty orders.The new regulations will also prohibit the so -called closed -loop transactions, that is, transactions between related entities, and repeatedly included in the book profit to the same cargo.
These proposed new rules do not cover provincial state -owned enterprises or private enterprises.Many such transactions are still common in these two departments.People familiar with the matter said that the proposed regulations are more stringent than expected.
