The First Board of Directors of China Chengtong in Garrison
On July 22, the first board of supervisors dispatched by the State Council held a meeting at the Group’s headquarter. Chairman of board of supervisors Li Ke, deputy director of Office 16 Wang Zhanjun, and supervisors including Xue Hui, Song Yu and Li Lei were present on the meeting. The Group’s chairman Ma Zhengwu hosted the meeting and extended warmest welcome to the board of supervisors. The Group’s president Hong Shuikun, Party cadres and leaders of the Group, employee supervisors, and persons in charge in each departments attended the meeting.
President Hong Shuikun represented the Group to report on the history, main business development and general condition of Party cadres and leaders of the Group. He also introduced the Group’s state-owned assets management, operation of board of directors, operation in the first half of the year and the working arrangement for the second half of the year.
Li Ke said it was an honor to know and work with those that were present on the meeting and spoke highly of the dedication and achievement of the Group’s Party cadres and leaders. He also thanked the Group for the coordination, support and significance it attached to the board of directors.
Li pointed out the system of dispatched board of supervisors to SOEs was an innovative and characteristic supervising model that considered the reality of reform for China’s SOEs. It plays a significant role in many aspects, especially in maintaining and increasing SOE assets values and preventing from significant losses. It is a model to “keep the power in the cage”, and strengthens the balance of power through power abuse prevention. Li said that the board and the supervised enterprise held the same career and the same goal, though in different perspectives. The supervising board will try its best to comprehensively and truly report on the supervised enterprise and will examine the enterprise from an dialectic and historical perspective. The supervision will focus on the decision, management, effect, perspectives and main trend of the enterprise and will stress the major issues, risks and problems. The board will cling to the law and supervising principles, and will pay attention to the working style to enhance efficiency. The board of supervisors also hoped that China Chengtong will continue their understanding and support to their work, actively responding to the supervision and seriously treating the warnings from the board of supervisors.
Li pointed out that China Chengtong had its specialties amongst central enterprises. It has a special founding and developing history and the main businesses cover many fields and regions and grow up with a unique way of innovation and of maintaining distinguished. The Group could respond to the changes in sponsors and markets and accumulated much experience in purchase, merger, disposition of non-performing loan, management, as well as risk control. The Group played an indispensible role in resource receipt, industrial incubation and development and successfully established a comparatively typical completing enterprise group.
Board chairman Li stressed that 2013 witnessed a multiplication of external factors in macro economy and the starting of fully implementing the new government’s economic strategy. Central enterprises should grasp the keynote, build confidence, seize the moment, and strive forward. The Group should earnestly study and implement the spirit of the Party’s 18thconference, and integrate the Group’s development into the theoretical fruits and spirit of the Party’s 18thconference. The education practices should be led by cadres and the quality of activities should be guaranteed, avoiding the merely going through motions. Management should be combined with education practices to perfect all kinds of systems and mechanism and to reinforce the management fruits, leading the Group on an innovation-driven, connotative way of endogenous development with a stricter, tighter inner control standard. The Group should stick to innovative reform and improve the working style, stressing solid work, innovation and initiatives. The Group should strengthen self-construction, cadre construction in particular. There should be efficient reward, punishment and promotion systems, along the way of continuing building up talented personnel team and administrative capability. The Group should also enhance its adaptability and anti-pressure capability when faced with public opinions.
Chairman Ma pointed out that chairman Li fully approved of the Group’s work in the previous stage, which was encouraging and also revealed the risks that Group was faced. This should be the focus of the work for the next step. Chairman Li’s requirements of “maintaining growth and promoting development” also conformed to the focus of the Group’s work in the second half year, which the Group should carry out carefully.
Chair Ma said China Chengtong had been benefited from the supervision and support over the years. At present, the Group is at the critical moment of pushing forward the strategic development of the twelfth five year plan. He sincerely wished that the board of supervisors could be more concerned with the Group, supervising it, warning it of risks, helping it to steer on the correct development. The Group will also try its best to provide service and support, as well as create good working environment to facilitate the board’s work.