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Party to reinforce role in SOEs reform

www.chinanews.cn 2005-01-24 09:15:32

(Source: Xinhuanet)

BEIJING, Jan. 23 - The Communist Party of China (CPC) will reinforce its
role as the leader of large state-owned companies, or state-owned
enterprises (SOEs), especially those under the control of the central
government, in order to better facilitate these companies' reform and
development while cracking down on corruption, according to a recent
document issued by the central government.
The nine-page document says party committee members should hold major
posts in large-scale companies, such as members of boards of directors or
general managers, to ensure the party's involvement in the SOEs' major
decisions.
It says a new mechanism should be set up in SOEs to choose talented
people and managerial personnel that match with the modern corporate
system, and that the SOEs should combine the party's policy on cadres
with the management's rights to employingpeople according to law.
The SOEs should set up effective supervision systems, includingeducation,
punishment and anti-corruption measures to fight against corruption,
according to the document.

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