Shanghai Municipal State-owned Assets Supervision and Administration Commission
(06.07.2010)

Shanghai Municipal State-owned Assets Supervision and Administration Commission is established as an institution directly under the municipal government, with its main functions, internal structure and personnel management in accordance with the “Notice of the General Office of the CPC Central Committee and the General Office of the State Council on Printing and Distributing ‘Plan on Reform of Organs of Shanghai Municipal People’s Government’” (Ting Zi [2008] No. 17).

Main Functions

1. to resume the responsibilities of the contributor, supervise and administrate the state-owned assets of the municipality’s state-invested enterprises, and enhance state-owned asset management as authorized by the municipal government in accordance with the “Company Law of the People's Republic of China”, the “Law of the People’s Republic of China on Enterprise State-Owned Assets”, and other laws and regulations;

2. to establish and improve a index system for state-owned assets’ value maintenance and appreciation, formulate evaluation standards, supervise and administrate the enterprises’ state-owned assets’ value maintenance and appreciation through planning, budgeting, settling, statistics and verification, and safeguard the rights and interests of the state-owned assets’ the contributor;

3. to guide to promote state-invested enterprises’ reform and restructuring within the municipality, study and prepare the overall planning for the development of the municipality’s state-invested enterprises, promote the construction of modern enterprise system for the municipality’s state-invested enterprises, and promote the strategic adjustments of national economy’s layout and structure in accordance with the municipality’s overall reform deployment;

4. to appoint, dismiss, appraise, award and punish the enterprises’ managers in accordance with their business performance, establish talent selection and appointment mechanisms in line with socialist market economic system and modern enterprise system, and improve a system of incentives and disincentives for operators through statutory procedures;

5. to guide the enterprises to improve their corporate governance structures and enhance the construction of the enterprises’ directorates and board of supervisors so as to form governance mechanisms featured by explicit responsibilities, coordinated operation and effective balance;

6. to resume the responsibilities of supervising and administrating the enterprises’ salary distribution and formulating and organizing to implement measures on income distribution to the enterprises’ managers;

7. to participate in formulating management systems related to state-owned capital operational budgets, put forward draft proposals for state-owned capital operational budgets, organize and supervise the execution of state-owned capital operational budgets; to prepare and report draft settlements for state-owned capital operation, and take charge of organizing the enterprises to hand in revenue from state-owned capital;

8. to cooperate in guiding, urging and inspecting the enterprises’ implementation of laws, rules, guidelines, policies and norms regarding safety production in accordance with the contributor’s responsibilities;

9. to take charge of the work of basic administration over the municipality’s state-invested enterprises; to draft the municipality’s local rules, regulations and policies regarding state-owned asset administration and formulate normative documents on state-owned asset administration; to guide and supervise state-owned asset supervision and administration work at district and county levels;

10. to undertake other tasks assigned by the municipal government.