Departments and bureaus within the commission, provinces, autonomous regions, municipalities and cities with separate plans and Xinjiang Production and Construction Corps SASAC:
To implement the decision-making and deployment of the Fourth Plenary Session of the 19th Central Committee of the Communist Party of China on the formation of a state-owned assets supervision system mainly based on capital management, in accordance with the relevant requirements of the Party Central Committee and the State Council on deepening the reform of state-owned assets and state-owned enterprises, and in accordance with the inspection and rectification opinions, Enterprises are transforming into managed capital, and their ability and level of state-owned assets supervision are continuously improved. We have formulated the "Implementation Opinions of the State-owned Assets Supervision and Administration Commission of the State Council on Accelerating the Transformation of State-owned Assets Supervision Functions Focusing on Managing Capital," which is now issued to you. Please implement them earnestly.
SASAC of the State Council
November 7, 2019
Implementation Opinions of the State-owned Assets Supervision and Administration Commission of the State Council on Accelerating the Transformation of the Supervision Function of State-owned Assets
The Fourth Plenary Session of the Nineteenth Central Committee of the Communist Party of China explicitly requested the formation of a state-owned assets supervision system focusing on capital management. This is a major decision made by Comrade Xi Jinping at the core of the party and the state ’s undertakings to deepen the reform of state-owned and state-owned enterprises. It is of great significance to optimize the layout of state-owned capital, give play to the leading role of the state-owned economy, and promote the sustainable and healthy development of the national economy. Implementing the important instructions of General Secretary Jinping on accelerating the transition from managing enterprises to managing capital, advancing the modernization of the national governance system and governance capacity, and following the relevant requirements such as the "Guiding Opinions of the CPC Central Committee and the State Council on Deepening the Reform of State-owned Enterprises", the following implementation is now proposed opinion.
I. Transforming the supervision function of state-owned assets based on managing capital
Adapt to the development stage of state-owned asset capitalization and diversification of state-owned enterprise equity and marketization, rule of law, and international development trends. In response to current state-owned asset supervision offside, absence, and dislocation issues, according to the formation of state-owned assets supervision based on managed capital The requirements of the system have made all-round and fundamental changes in terms of regulatory philosophy, regulatory focus, regulatory methods, and regulatory orientation.
(1) Change the concept of supervision, from direct management of the enterprise to a more emphasis on supervision based on the investment relationship. Adhere to the separation of government and enterprise and the separation of government and capital, further clarify the boundaries of duties, perform the role of investor in state-owned capital investment, operating companies and other directly monitored enterprises according to law, and assign the matters that should be decided by the enterprise's independent operations to the enterprise and extend to the sub-sector. In principle, the management of the enterprise belongs to the first-tier enterprise, ensuring that the scientific management of the management is never absent, and that the management should not devolve power according to law and never go offside.
(2) Adjust the focus of supervision and change from focusing on individual enterprise development to paying more attention to the overall function of state capital. Based on the overall situation of the supervision of state-owned assets, focus on the overall function and efficiency of state-owned capital, strengthen systematic planning and overall control, coordinate the allocation of state-owned capital in a larger, deeper and wider area, continue to optimize the layout structure, and promote the rational flow and preservation of state-owned capital Add value, promote the continuous development and growth of the state-owned economy, and better serve the national strategic goals.
(3) Improve the supervision method, and change from being accustomed to administrative management to using more market-oriented legal methods. The right to uphold is statutory, the right is exercised in accordance with the law, and the duties are performed strictly in accordance with the powers and procedures prescribed by laws and regulations. We will change the way of performing duties with administrative characteristics such as approving and supervising, paying more attention to property rights as the basis, capital as the link, relying on the company's articles of association and fulfilling investor responsibilities through the corporate governance structure, and transforming regulatory requirements into shareholders' will.
(4) Optimizing the supervision orientation and shifting from focusing on speed of scale to focusing on improving quality and efficiency. Adhere to quality first, efficiency first, improve assessment rules in accordance with the requirements of high-quality development, better guide enterprises to accelerate the transformation of development methods, promote quality changes, efficiency changes, and power changes in state-owned enterprises, and continuously enhance the competitiveness, innovation, Control, influence and anti-risk ability.
Highlight the important content of managing capital
Deeply understand the essence of capital management, focus on optimizing the allocation of state-owned capital, and manage the capital layout; focus on enhancing the vitality of state-owned enterprises, and manage capital operations; focus on improving the return of state-owned capital, and manage capital gains; focus on preventing the loss of state-owned assets, and manage capital Safety; focus on strengthening party leadership and managing party building in state-owned enterprises.
(5) Strengthen the overall control of capital distribution and further bring into play the role of state-owned capital. Coordinate the direction of the state-owned capital distribution, serve the major national strategies, regional development strategies, and industrial policy planning, and build a national state-owned capital planning system. Focus on optimizing capital allocation, adhere to the combination of investor-led and market-oriented principles, and vigorously promote the strategic reorganization, professional integration, and forward-looking layout of state-owned capital. By strengthening strategic planning and management of the main business, formulating a negative investment list, and checking the proportion of non-main business investment control, the company is guided to focus on the main business. Vigorously resolve excess capacity, accelerate the disposal of inefficient and ineffective assets, and effectively revitalize state-owned capital.
(6) Strengthen capital operations and further improve the efficiency of state-owned capital operations. Establish and improve the state-owned capital operation system, strengthen the overall planning of state-owned capital operations, and accelerate the creation of a market-oriented professional platform. Giving full play to the functions of state-owned capital investment companies, promoting industrial agglomeration, overcoming excess capacity, transformation and upgrading, and fostering core competitiveness and innovation capabilities through investment financing, industrial cultivation, and capital operations. Optimize the operation of state-owned capital, and realize the rational flow of state-owned capital and the maintenance and appreciation of value through equity operation, fund investment, cultivation and incubation, value management, and orderly advancement and retreat. Strengthen basic management such as property rights registration, state-owned asset transaction and circulation, asset evaluation, asset statistics, and asset verification and verification to ensure that capital operations are in accordance with laws, regulations, and regulations.
(7) Optimize capital gains management and further promote the preservation and appreciation of state-owned capital. Improve the assessment index system, and implement classified and differentiated assessments for enterprises with different functional positioning, different industry areas, and different stages of development. Give full play to the role of assessment guidance, highlight the priorities of quality first, benefit first, serve the national strategy, innovation-driven development, and supply-side structural reform, and improve the incentive and restraint mechanism. Optimize the management of the revenue and expenditure of the state-owned capital operating budget, which more reflects the regulatory requirements of investors, increase the proportion of capital injection in budget expenditure, and promote the market-oriented operation of capital budgeting. Strengthen the market value management of listed companies and improve shareholder returns. Strengthen the management of financial budgets and final accounts and the supervision of major financial matters to realize the controllable capital gains and the preservation and appreciation of value.
(8) Maintain the safety of state-owned capital and further establish a bottom line to prevent the loss of state-owned assets. We will improve the investor supervision system covering all business areas of state-owned assets supervision, and strengthen the supervision of key businesses, key areas of reform, important links in the operation of state-owned capital, and foreign-owned assets abroad. We will improve the accountability mechanism, increase the accountability of investing in illegal operations, and establish a closed-loop supervision of business supervision, comprehensive supervision, and accountability. Strengthen supervision and coordination, make overall arrangements for the supervision of investors and discipline inspection and supervision, patrol supervision, audit supervision and social supervision, and establish an effective supervision and coordination linkage and consultation mechanism to effectively prevent the loss of state-owned assets.
(9) Strengthen the party's leadership in an all-round way, and further lead the high-quality development of state-owned enterprises with high-quality party building. Adhering to the "two consistent principles" will unify the strengthening of party leadership with the improvement of corporate governance, and guide the promotion of state-owned enterprise party committees (party groups) to play a leading role in implementing direction, managing the overall situation, and ensuring implementation. Efforts should be made to do a good job of party building, insisting on managing capital to manage party building, integrating party building into all aspects of the entire process of managing capital, strengthening the party organization construction of mixed-ownership enterprises, promoting full coverage of party organizations at the grassroots level, and continuously strengthening party organizations Organization, cohesion, and combat effectiveness. Promote the strict and thorough development of the party in an all-round way, strengthen the construction of party style, clean government, and anti-corruption work in state-owned enterprises, and create a sound environment for the reform and development of state-owned enterprises.
Third, the way to optimize the management of capital
Adhere to the combination of authorization and supervision, unification of livelihood and good management, and on the basis of clarifying the key content of management capital, adjust and optimize the supervision method simultaneously, realize the integration and mutual promotion of supervision functions and methods, and strengthen the systematization of the transition to management capital And effectiveness.
(10) Inventory management. In accordance with laws and regulations such as the Company Law of the People's Republic of China, the Law of the People's Republic of China on the State-owned Assets of Enterprises, and the "three determinations" of the State-owned Assets Supervision and Administration Commission, establish and improve a list of powers and responsibilities, implement the requirements of mainly managing capital, and clarify the key points of performance. Clarify the boundaries of responsibility. In accordance with the principle of statutory powers and responsibilities, we should block the powers that should not be in the list; ensure that the powers in the list operate normally and urge the implementation of responsibilities. According to the progress of the change of functions, we implemented dynamic adjustments to the list and standardized the content and methods of performing duties.
(11) Perform duties through the corporate governance structure. Formulate or participate in the formulation of the company's articles of association in accordance with the law, promote the governance bodies to perform their duties strictly in accordance with the company's articles of association, and give full play to the fundamental role of the company's articles of association in corporate governance. Appoint directors or nominate director candidates to state-funded enterprises in accordance with the equity relationship, regulate the rights and responsibilities of directors, strengthen the supervision and management of external directors, supervise the performance of duties and responsibilities, strengthen communication, improve the work linkage mechanism, and better implement the investor's will.
(12) Authorization and decentralization by category. Increase the degree of authorization and decentralization, combined with the reform and development of enterprise function definition and classification, governance capabilities, and management levels. According to the different characteristics of state-owned capital investment, operating companies, and other directly monitored enterprises, authorize decentralization to fully stimulate the micro Subject vitality. Regularly evaluate the implementation and effect of authorized decentralization and establish dynamic adjustment mechanisms.
(13) Strengthen post-event and post-event supervision. Effectively reduce the examination and approval matters, and create a complete work chain of pre-system regulation, follow-up monitoring and post-event supervision and accountability. Promote the deep integration of informatization and supervision business, unify the information work platform, realize real-time online dynamic supervision, and improve the pertinence and effectiveness of supervision. Strengthen the supervision and inspection of the implementation of the state-owned assets supervision system, continuously improve the supervision system, innovate supervision methods, and strictly pursue accountability.
Fourth, strengthen the support and guarantee of management capital
Focusing on the target task of managing capital, it is necessary to further unify ideology, strengthen organizational leadership, improve the supervision system, and strengthen team building to provide a solid guarantee for the formation of a state-owned asset supervision system focusing on managing capital.
(14) Unified thinking and understanding, and unite system consensus. Firmly grasp the responsibilities of state-owned assets regulatory agencies, fully perform the duties of state-owned enterprise investor, state-owned assets supervision, and central enterprise party building, and strengthen key functions and adjust the performance of duties in accordance with the requirements of capital management. Strengthen the central government's promotion and implementation of the spirit of state-owned assets supervision functions, highlight the guidance and supervision of local state-owned assets supervision, form a joint force for the state-owned assets supervision system to transform into capital management, speed up the construction of a state-owned assets supervision structure, and form a game of state-owned assets supervision.
(15) Strengthen organizational leadership and effectively implement responsibilities. Based on the overall plan of the party and the state, we will advance the transformation of the supervision function of state-owned assets, and pass the requirements of capital management through various professional supervision fields. Comprehensively find out the current non-compliance and unsuitability issues with the management capital requirements, take the initiative to take the initiative, and take practical measures to ensure that the reform requirements are implemented. In accordance with the functions of the internal institutions after adjustment, streamline the operating mechanism, proactively communicate and connect, avoid cross-work and supervision gaps, and improve supervision effectiveness.
(16) Improve the system and strengthen the guarantee of the rule of law. Actively participate in legislation on key areas of state-owned assets supervision, and promote the implementation of relevant requirements for capital management in the revision of relevant laws and regulations such as the Company Law of the People's Republic of China. Documents were cleaned up in a timely manner, and normative documents on state-owned assets supervision and regulation that were inconsistent with the spirit of the central government and incompatible with the requirements for capital management were revised and abolished. Improve the legality review mechanism of regulatory documents, and ensure that the various systems meet the requirements of the state-owned assets supervision system, mainly in terms of capital management, in terms of basic directions and principles, focus and methods of performance.
(17) Improve work style and quality of the team. Further improve the political standing, resolutely be loyal to the party, and take the actual actions of accelerating reforms and promoting the transformation of functions as a test of cadres to strengthen the "four consciousness", firm "four self-confidence", and achieve "two maintenance" standard. Strengthen service awareness, strengthen investigation and research, take the initiative to consider issues from the perspective of the enterprise, promote work, and continuously improve the quality and level of service enterprises. Strengthen the knowledge of state-owned assets supervision business, pay attention to the improvement of practical ability, and build a high-quality professional state-owned assets supervision cadre team that meets the requirements of capital management, has the ability to manage capital, and is loyal and clean.