SASAC's work will focus on property rights and capital management

In an address to the Chinese New Year in 2007, Li Rongrong, director of the SASAC, said that the work of the SASAC this year will focus more on property management and capital management.
Li Rongrong said that 2007 was an important year for accelerating the reform and development of state-owned enterprises after the framework of the state-owned asset management system was basically established. We must focus on cultivating and developing large corporations and groups with independent intellectual property rights and well-known brands and strong international competitiveness, firmly grasp the responsibilities of investors, and increase the readjustment of the structure of the state-owned economy.
At the same time, we must speed up the reform of the state-owned enterprises' shareholding system, strengthen the supervision of state-owned assets, and strive to increase the competitiveness and control of the state-owned economy.
At the meeting of the leaders of central enterprises recently held, Li Rongrong once pointed out that in 2007, SASAC should focus on promoting the work in four areas.
The first is to increase the readjustment of the layout and structure of central enterprises. In addition to the continued voluntary reorganization of the central enterprises, it is necessary to take the investor as the leader and promote the joint reorganization of the central enterprises according to law.
The second is to accelerate the reform of the shareholding system and improve the governance structure of the company's legal person. Except for those enterprises that involve national security or national industrial policies that prohibit foreign investment or private capital investment, other central enterprises must gradually restructure themselves into multiple-equity companies. We will continue to expand the trial establishment of the central government for the establishment of a standardized board of directors, and extend the pilots to limited liability companies and joint-stock companies with multiple investment entities in the central enterprises.
The third is to improve the state-owned assets management system and strengthen the supervision of state-owned assets. While improving the performance evaluation system, we will continue to improve the state-owned property management system. The relevant measures for the transfer of state-owned stock rights of listed companies after the reform of the equity division reform will be introduced as soon as possible, and the state-owned equity supervision system for listed companies will be improved; the drafting and management of property rights in the context of diversified equity will continue to be studied and drafted, and the state-owned property management measures for overseas enterprises will be continued.
The fourth is to give play to the political core role of corporate party organizations and further strengthen and improve corporate party building work.

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