The State-owned Assets Supervision and Administration Commission has enlisted seven auditors including international services firm PwC to investigate the offshore assets of certain state-owned enterprises this year, South China Morning Post reported, citing state media. The audits come less than a decade after Beijing pushed state firms to invest abroad, a move that has since prompted concerns over where much of that money ends up. In March, Xinhua quoted a former deputy auditor general of the National Audit Office as saying the RMB4 trillion (US$644.4 billion) in offshore assets owned by SOEs were virtually unaudited.
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