China sets guidelines for budgeting state-owned capital – govt

SHANGHAI (Reuters) – China’s State Council issued guidelines on improving an operating budget system for state-owned capital, according to a statement on the government website on Saturday.

The government will expand coverage of the budget system and optimise a mechanism for state-owned companies to hand over their profits, among a series of measures seeking to improve the capital efficiency and support growth of state-owned assets, it said.

(Reporting by Shanghai Newsroom; Editing by William Mallard)