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SOEs Urged to Give Priority to Management
"Seeking Truth," a leading biweekly magazine in China, published an article on Friday in Beijing written by Vice Premier Wu Bangguo calling for state-owned enterprises (SOEs) to give priority to improving their management.
Stressing that the central leadership has always attached great importance to the issue, the vice premier urged greater awareness of the situation, and that a series of guiding principles and policies of the Communist Party of China Central Committee and the State Council on deepening the SOE reform and strengthening their management be carried out to the fullest.
The circumstances surrounding SOE reform and development should be recognized so as to better understand the needs for tighter management, the senior official said. As SOE reform deepens, some SOEs are encountering greater difficulties and the living standards of their staff are declining, Wu said.
He urged SOEs to overhaul their management systems in accordance with the modern corporate system, stressing the importance of strengthening supervision over leaders of SOEs.
Furthermore, SOEs should strengthen their internal management mainly in areas of production cost, funds, and product quality, the vice premier said.
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