China Approves Two Draft RegulationsTwo draft regulations respectively governing financial asset management corporations and supervision over coal mine safety were passed in principle at the 32nd executive meeting of the State Council Wednesday.Participants at the meeting, which was presided over by Premier Zhu Rongji, held that it is necessary to formulate the regulation on financial asset management corporations to standardize their operations, dispose of bad loans in accordance with the law, and promote reforms of state-owned banks and enterprises. The regulation on supervision over coal mine safety will provide a framework for newly built coal mine safety monitoring organizations and better protect the personal safety of coal mine workers. |
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