To improve discipline in the sector, China is likely to issue a regulation on management buyouts (MBO) in small and medium-sized Stateowned enterprises (SOEs) within the first quarter. The draft of the new regulation, aimed at curbing irregularities in MBOs by introducing detailed standards and procedures, has already been completed and has been distributed to experts and relevant departments for consultation, according to Li Rongrong, minister of the State-owned Assets Supervision and Administration Commission (SASAC).