China hopes to improve monitoring of the country's insolvency laws and there are no plans to freeze bankruptcies of large state enterprises, according to the government and industry experts. 'Increasing job losses could upset the public and create social uncertainties. It is a situation that Beijing does not want to see,' said Stephen Lee, a partner at Ernst & Young. The comments follow a Financial Times report suggesting the Supreme Court had told provincial courts not to proceed with bankruptcy cases of state-owned firms with assets of more than 50 million yuan (about HK$46.8 million) unless they had court approval. However, the Ministry of Finance and Ministry of Foreign Trade and Economic Co-operation - which handle such matters - said they were not aware of a change in the rules. Wu Tao, a lawyer with Zhonglun Jintong Law Firm, said he did not believe the country would freeze bankruptcy plans as it was a means for Beijing to speed up restructuring of state-owned enterprises as entry to the World Trade Organisation is imminent. However, Mr Wu said Beijing had been controlling bankruptcies of larger enterprises that were in key industries to avoid instability in the macro-economy.