State-owned Assets Supervision and Management Bureau

From: Yantian Government | Updated: 2019-05-15

Main duties:

1. To guide and push forward the reform and reconstruction of state-owned enterprises; to supervise the preservation and increment of the value of state-owned assets for enterprises under its supervision, to enhance the management of state-owned assets; to advance the establishment of modern enterprise system in state-owned enterprises (SOES), and to perfect corporate governance; and to propel the strategic adjustment of the structure and layout of the state economy.

2. To dispatch supervisory panels to large important enterprises on behalf of the Yantian District Government; to examine and verify the supervision and inspection reports submitted by the board of supervisors. To be responsible for daily management of the board of supervisors.

3. To Appoint and remove top executives of enterprises, and evaluate their performances through legal procedures, either grants rewards or inflicts punishments based on their performances; to establish corporate executives personnel selection system in accordance with the requirements of socialist market economy system and modern enterprise system, and perfect incentives and restraints system for corporate management.

4. To supervise and administer the preservation and increment of the value of state-owned assets through statistics and auditing; to establish and perfect the index system of the preservation and increment of the value of state-owned assets, work out assessment criteria, to maintenance the rights and interests of the investor of state-owned assets.

5. To direct and supervise the management and supervision of municipal state-owned assets according to law.