(Sept 12): China called on government-owned companies to sharpen overseas investment strategies and strengthen security safeguards as Beijing seeks to expand the global reach of its state enterprises.

The state-owned Assets Supervision and Administration Commission (SASAC) said companies should deepen international cooperation in areas including technology, equipment and standards, according to a statement posted on the agency’s website on Saturday. 

Central state-owned enterprises should align their overseas expansion with China’s broader opening-up framework, and make coordinated use of domestic and international markets, the SASAC said. It called for cooperation that delivers benefits for China and its overseas partners, and promotes peaceful development.

The regulator also called for stronger Communist Party leadership at central state-owned enterprises, along with greater accountability and stronger anti-corruption measures. It urged party organisations and members to play an exemplary role in major projects and important tasks.

Separately, the SASAC urged companies to draw lessons from a deadly fire this week aboard a foreign cargo vessel at Beihai Shipbuilding in Qingdao and step up safety inspections. The incident killed 25 people. It called on the company to cooperate with rescue efforts and the investigation into the accident and address the problems identified. 

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