Several Questions
The EO: How will the team face these challenges down the line?

Li: The most important job we do is find a way to push further perfection of the draft. The first draft defines the law’s application to the management of non-financial state-owned assets. With this in mind, at least three questions need to be answered:

First, should the law be named "state-owned assets law”, or "operating state-owned assets law”, or something even more accurate? Second is whether to set down some principles for administrative and resource-based assets. Third, should the law apply to all assets, be they financial, national defense, or news?  More details still need discussing.

From my viewpoint, though the law is limited to operating state-owned assets, we should keep an eye on the long-term. We should build this law in a way that connects it to some future, perfect State-owned Assets Law.

To this end, the law should eventually outline non-operating state-owned assets. But before that, the law has to clearly define state-owned assets. Without a clear definition, there will be many problems down the line
Second, the law should apply to all operating sate-owned assets, including financial and news. In particular, we should pay more attention to businesses that serve public functions, or whose administration by the public is unclear.

The third is that the law should consider how to link up to that more comprehensive state-owned asset law of the future.

The EO: what does the draft team think of the role of SASAC?

Li: The questions arising from the first review, to the large extent, involved the state-owned assets management system, but some extent, touched upon the role of SASAC. In actuality, these questions are one and the same.

The present state-owned assets management system is flawed; SASAC is unable to supervise the management of many state-owned assets, especially many operating assets. Meanwhile SASAC has many roles—it is both an investor and regulator.

These are the key issues the new government, the NPC, and the CCPCC should focus on. We should make a comprehensive reflection on the five years of state-owned asset management system and the 30 years of state-owned enterprises reform.