"Seven Tasks" to be Addressed for Chinese SOEs' Ridding of losses

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Tuesday, May 09, 2000, updated at 15:34(GMT+8)

Business

"Seven Tasks" to be Addressed for Chinese SOEs' Ridding of losses

This year is the decisive year for the reform and loss-cutting of State-owned enterprises. In order to achieve the goal of shaking off losses within three years, the State Economic Trade Commission has put forward the Guideline for the Work of Extricating from difficulties the Large-and-medium-sized State-owned Enterprises and emphasized the seven points of attention to be dealt with in work.

The seven tasks are: to improve planning by clarifying the responsibilities for decreasing losses round the objective; to get rid of difficulties by resorting to comprehensive means centering on structural adjustment; to promote the transformation of management mechanism for a speedy establishment of modern enterprise system; to strengthen the internal management of the enterprises; to enhance the leadership; to exchange experiences and explore diversified forms in the reform of SOEs and to continue the work of investigation and supervision on SOEs to learn about the development of their reform in a precise and timely way.

The guideline stresses that the supervision work should be strengthened on the leaders of loss-laden enterprises by exercising strict examination and rigorous implementation of rewards and punishments. The leaders incapable of reversing loss-making condition should be dismissed and replaced and those who've made notable achievements should be cited and awarded. The market mechanism should be introduced into the choosing procedure for enterprise leaders by recruiting management personnel from the society so as to replenish the leading force of loss-making enterprises with competent people who are vigorous, energetic and enthusiastic and full of new ideas. The favorable conditions should be created in all aspects to support the work of leadership of the difficult enterprises.


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	This year is the decisive year for the reform and loss-cutting of State-owned enterprises. In order to achieve the goal of shaking off losses within three years, the State Economic Trade Commission has put forward the Guideline for the Work of Extricating from difficulties the Large-and-medium-sized State-owned Enterprises and emphasized the seven points of attention to be dealt with in work.




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