China strengthens oversight of state-owned assets overseas amid global tensions

China’s state assets watchdog has established a new department to oversee foreign investments, as firms continue to expand their global footprint amid an increasingly turbulent geopolitical outlook.The new bureau, launched by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on Wednesday, will guide State-owned enterprises in their international operations, according to its website.It will also be responsible for helping firms optimise and restructure their Overseas Assets, as well as strengthening risk prevention for their investments and handling emergencies and crises abroad.