China’s premier firm for advising on reform time lines for state owned enterprises. We assist with
SOE Reform Time Line
1979-84: Certain powers and decision making rights are given to State-Run-Enterprises and this was seen as the initial step to reform.
1985-93: The concept of owning, but not managing daily business was introduced with the responsibility system of contracted management and lease systems. Companies began to transform from State-Run-Enterprises to State-Owned-Enterprises (SOE).
1993: The National People's Congress (NPC) introduced a Corporate Law system, which gave legal rights different ownership structures and clear property rights.
1999: The Chinese Communist Party Central Committee put forward that SOEs should attempt to diversify their shareholders. The role of non-public owned economy with a private sector was formally confirmed.
2003: The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) was created to perform the responsibilities of investors and pushes forward reform and restructuring of state-owned enterprises. It supervises the preservation of the value of state-owned assets for enterprises under its supervision, and enhances the management.
December 2006: The SASAC announced that it would maintain controlling positions in some crucial State-Owned-Enterprises. These sectors included armaments, power generation/distribution, oil/petrochemicals, telecommunications, coal, aviation and shipping. The SASAC’s goal is to maintain “between 30 and 50 internationally competitive conglomerates with intellectual property and famous brand names."
For more information on SOE reform, contact the China Fortune Investment Group at Info@ChinaFIG.com .
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