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State Council Sends Chairpersons to Boards of Supervisors in 100 SOEs
China's State Council has designated the first group of 36 chairpersons to the boards of supervisors in 100 key state-owned enterprises (SOEs).
A central government committee in charge of SOE affairs announced Thursday that 27 of them will be sent to the boards of supervisors in 67 enterprises, and the other nine will be sent to 33 enterprises after they have completed their professional training.
The move is aimed at strengthening supervision of key state-owned enterprises and prevent the state's assets from being eroded.
The boards of supervisors established by the State Council will conduct inspections on the maintenance and increment of state assets in key state-owned enterprises, and report them to the State Council. They will inspect the financial operations of the enterprises and the management and business activities of enterprise leaders, but will not participate in or interfere with the management and business decisions of enterprises.
The boards of supervisors will appraise the managerial skills of enterprise leaders and give suggestions as to whether or not they will receive awards, be punished, appointed or removed from their position.
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