The Statistics and Evaluation Bureau of the State-owned Assets Supervision and Administration Commission of the State Council says that 161 state-owned enterprises, including the six major telecom operators, will start implementing a new enterprise accounting principle by the end of 2008.
Those whose listed assets or income accounts for a large proportion of the company's total assets or income will take the lead in doing so in 2007.
SASAC disclosed the information in a memo sent to the companies called "Notice on Working Well on State-owned Enterprises' Final Accounts in 2006 and Financial Supervision in 2007".
According to the notice, SASAC will further enlarge the review on state-owned enterprises' financial budgets and strengthen the management of enterprise accounting and budgeting.
