China Mulls Tougher Rules on Commodity Trading For Key Firms
- Beijing proposes strict rules for centrally-owned SOEs
- Opaque industry has been hit by multiple cases of fraud
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China has proposed tougher-than-expected rules on commodities trading by its state-owned giants, as Beijing seeks to tackle hidden risks in the world’s biggest raw materials market.
The government is gathering feedback from some of the country’s top state-run energy, metals and food companies on draft regulations that aim to guard against fraud and halt what officials view as wasteful financial activities, according to people familiar with the matter.