SOEs face 'red line' on investment

Real estate, iron ore are among overseas sectors to be off-limits

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.

(Source: China Daily)