Official: Chinese SOEs Seeking Foreign Managers

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Last updated at: (Beijing Time) Friday, June 13, 2003

Official: Chinese SOEs Seeking Foreign Managers

China's State-owned Enterprises (SOEs) will choose talented people from overseas and private entrepreneurs as managerial personnel, said a Chinese official Thursday at a press conference.

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China's State-owned Enterprises (SOEs) will choose talented people from overseas and private entrepreneurs as managerial personnel, said a Chinese official Thursday at a press conference.

Li Rongrong, director of the State-owned Assets Supervision and Administration Commission, said the most serious difficulty facing Chinese SOEs is finding excellent and qualified executives.

The commission will set sound standards and create favorable conditions to employ qualified talents, regardless of their nationality and current status, and put them in the managerial positions in Chinese SOEs, Li said.

According to a newly-promulgated statute on state assets management, executives with Chinese SOEs are to be employed by signing contracts instead of being appointed by superior departments. In this way, it is easier to dismiss an executive if his work fails to meet certain standards, Li said.

A person's work experience should be stressed more than his or her academic degree when hired to act as a manager for a Chinese SOE, Li said.

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