THE Chinese Government will audit the overseas assets of State-owned enterprises (SOEs), the regulator announced, as it tries to improve transparency and combat corruption.

    The State-owned Assets Supervision and Administration Commission said late Tuesday that it had issued a tender for the audit, in what domestic media said was the first time such a tender had been offered.

    Companies who wish to apply must be incorporated in China and have Chinese government licenses, the regulator said, adding that the results of the tender will be announced April 7.

    The bidders must have no record of major law violations or administrative punishment by financial departments in the past three years, and their activities must not have been restricted by authorities in the same time frame.

    Bidders who have engaged in auditing work for the SOEs in question or their overseas subsidiaries between January 2012 and December 2014 will also not be considered, the regulator said.

    The Xinhua news agency said earlier this month thatChina does not audit the 4 trillion yuan (US$637.42 billion) of assets its State-owned enterprises hold overseas, highlighting difficulties the government faces when expanding its anti-corruption drive.(SD-Agencies)