State-owned Assets Supervision and Administration Commission of the State Council, Tentative Measures for the Administration of Overseas State-owned Assets and Equity of Enterprises Directly under the Central Government

Applicability: The term “overseas state-owned assets and equity” means the equity interests arising from the capital contributions made by central enterprises (i.e. enterprises in which the State-owned Assets Supervision and Administration Commission of the State Council (Sasac) performs the duties of investor) and their subsidiaries (i.e. wholly-owned and controlled subsidiary enterprises thereof at all levels) in various forms to overseas enterprises. The term “overseas enterprise” means an enterprise invested in and established outside China or in the Hong Kong Special Administrative Region, Macao Special Administrative Region or Taiwan by a central enterprise or a subsidiary thereof in accordance with local laws (Article 2).