China will launch a campaign of supervision over efficiency of bad assets management in central enterprises in 2006. Those who cause the loss of national assets due to violation of laws and regulations, or failure to perform their duties, will be investigated and severely punished, no matter when the loss is caused and whether they have left the position.

According to the notice to carry out the supervision, every central enterprise that has bad assets should perform supervision on efficiency of bad assets management.

"Facts and causes of assets loss in history ought to be found out, responsibilities must be clarified; for new loss of assets, responsibilities should be investigated according to laws," an official with State-Owned Assets Supervision and Administration Commission said.

The supervision will focus on the four aspects: the implementation of the responsibility system of bad asset management; the establishment of the bad assets management system; the law enforcement over the course of disposal of bad asset; the defining of responsibilities for causes of bad assets.

By People's Daily Online