China Names and Shames 353 Private Firms Pretending to Be State-Owned

China’s top state-owned asset watchdog has announced a list of hundreds of private-sector companies masquerading as state-owned enterprises (SOEs), in a bid to help investors avoid being scammed.

“Those companies and their subsidiaries are fake SOEs and have no affiliation or equity relationship with central government-supervised SOEs, nor any investment, cooperation or business relationship,” according to a recent statement (link in Chinese) released by the State Council’s State-owned Assets Supervision and Administration Commission (SASAC). “All their behaviors are irrelevant to the central SOEs.”

The names of the 353 companies on the list were first disclosed by some central government-supervised SOEs, and then compiled by the SASAC.

Source: Caixin Global