Explore the Innovative Path of State-owned Asset Supervision: Baosteel's Model of Sending Supervisory Committees for State-owned Asset Supervision

Author: Cao Junwei
Publisher:
Publish Date: 2005-11-01
Features: This book systematically discusses Baosteel's practices and experiences in promoting integrated operations, restructuring the steel business assets for listing, moderately developing related diversified industries, and separating the main and auxiliary businesses while reforming the auxiliary businesses. In line with the state's requirements for state-owned asset management and in combination with Baosteel's own characteristics, the company established a relatively complete internal supervision system for state-owned assets by sending supervisory boards to its wholly-owned subsidiaries and exercising supervisory powers within the authorized scope. The system of sending supervisory boards is an effective model for Baosteel to strengthen internal supervision of state-owned assets and an innovative practice for large state-owned enterprises to explore supervision methods for state-owned assets. This system features joint supervision, process supervision, timely supervision, and "four-have" supervision, which helps form a supervisory chain of pre-event prevention, in-process control, and post-event correction, ensuring the safe and effective operation of state-owned assets. It can be said that Baosteel's active exploration in the organizational system, functions, positioning, management responsibilities, and application models of state-owned asset supervision and management is of practical significance and reference value for the reform of state-owned enterprises in China.