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SOCASAO strengthens management of State-owned assets

|Updated : 2018-11-20

The State-owned Cultural Assets Supervision and Administration Office (SOCASAO) recently completed the registration of property rights for six regulators and 235 companies. The move is designed to strengthen the supervision of State-owned cultural assets and improve the management of regulatory authorities.  

Next, SOCASAO plans to register the property of Beijing Gehua Cultural Development Group. The organization plans to actively manage and use the enterprise property registration database to complete real-time dynamic analysis, and provide basic data support for the property management of State-owned cultural enterprises.

At the same time, SOCASAO will enhance the management of newly-established enterprises, as well as the cleanup of so-called "zombie" firms, while promoting the careful and efficient management of State-owned assets.