China has authorized 32 provincial state-owned assets watchdog agencies, said the State-owned Assets Supervision and Administration Commission in Beijing Thursday.

Seventeen have been set up and the rest will be completed soon. The country has 262 municipal state-owned assets watchdog agencies.

Li Rongrong, minister in charge of the commission, said all provincial and municipal state-owned assets supervision and administration departments should be set up by the end of June.

Source: Xinhua