Six major Chinese SOEs to offer top jobs

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Last updated at: (Beijing Time) Tuesday, September 16, 2003

Six major Chinese SOEs to offer top jobs

Six of China's biggest State-owned enterprises (SOEs) have jointly launched their most ambitious recruitment campaign for senior managers. It is the first to be organized by the State-owned Assets Supervision and Administration Commission (SASAC), which was set up in April.

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Six major Chinese state-owned enterprises (SOEs) are to recruit senior executives from home and abroad from mid-September, the first such move to improve their personnel structure.

Sources with the State Assets Supervision and Administration Commission under the State Council (SASAC) said on Monday that seven positions, ranging from deputy general manager to chief accountant, would be open to candidates.

China Unicom Corporation Ltd., one of the country's leading telecommunications operators, plans to recruit two deputy general manager while the Aluminum Corporation of China Limited, the country's sole aluminum producer, and Sinotrans, a major logistics dealer, each hope to hire a deputy general manager.

The State Development and Investment Corporation, an infrastructure investor, and China Energy Conservation Investment Corporation Ltd., the only state corporation for energy-efficiency and environmental projects, each plan to recruit a chief accountant.

China Unicom is a listed firm on the New York and Hong Kong bourses and Sinotrans is publicly listed in Hong Kong.

Of the candidates, all require Chinese citizenship except the deputy general manager with Sinotrans, the SASAC, the department responsible for the recruitment, announced.

An SASAC recruitment team headed by deputy director Li Yizhong, has been organized and the process is scheduled to end in late December.

The move represents "an attempt to use market-oriented channels to improve managerial mechanisms under the market economy", the announcement said.

"The open recruitment is expected to advance the selection mechanism in SOEs and gives impetus to the personnel reform in SOEs," Li Yizhong said.

"The gap between Chinese SOEs and multinational corporations is mainly the gap in personnel selection," SASAC director Li Rongong once said.

It is also reported that SASAC would begin to implement new evaluation and payment systems in over 190 SOEs under its direct supervision in 2004, and the SOE executives will be paid on the basis of their performance.

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