China's SASAC and NDRC issue guideline to enhance procurement activities for central SOEs, targeting transparent and efficient supply chains.

China's SASAC and National Development and Reform Commission have issued a guideline to enhance central SOEs' procurement activities, targeting transparent and efficient supply chains. The new policies aim to improve procurement regulation, encourage tech innovation adoption, and standardize practices. This initiative aims to spur growth for SMEs, promote private sector involvement, and drive large-scale equipment upgrades, totaling over 3 trillion yuan ($417.54bn) over the next five years.

August 07, 2024
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