State-owned Assets Supervision and Administration Commission of People’s Government of Huaihua City (“the Commission” hereinafter) is a special institution directly under the People’s Government of Huaihua City, which was established as per the Notice of the CPC Huaihua Municipal Committee and People’s Government of Huaihua City on Issuing the Implementation Opinions on the Institutional Reform Plan of the People’s Government of Huaihua City (H.F. [2010] No. 3) and Notice of the CPC Huaihua Municipal Committee and People’s Government of Huaihua City on the Institutions of the People’s Government of Huaihua City (H.F. [2010] No. 4). The Party Committee of the Commission shall perform the duties stipulated by Huaihua Municipal Party Committee.

As per the Notice of the General Office of the CPC Hunan Provincial Committee and General Office of the People’s Government of Hunan Province on Issuing the Huaihua Institutional Reform Plan (X.B. [2018] No. 65) and subject to the approval of the People’s Government of Huaihua City and Huaihua Municipal Party Committee, the Commission was transformed from a special institution directly under the People’s Government of Huaihua City to its department.

 I. Responsibility Adjustment

 1. Transfer the responsibilities of the Commission for the board of supervisors and economic responsibility audit of leading officials of state-owned enterprises to Huaihua Municipal Audit Bureau.

2. Cancel, delegate, adjust and add matters subject to administrative review and approval announced by the People’s Government of Huaihua City for change.

3. Cancel matters subject to administrative review and approval announced by the People’s Government of Hunan Province for such cancellation.

4. New responsibility to guide and supervise the management of legal advisors of supervised enterprises.

5. Enhanced responsibilities to guide and advance the reform and restructuring of state-owned enterprises, improve the layout and structure of the state-owned sector at a faster pace, and promote the investment of state-owned capital in important industries and key fields that are vital to national security and are the lifeblood of national economy.

6. Enhanced responsibilities to conduct financial supervision, risk control and economic responsibility audit of state-owned assets, improve the business performance appraisal system of supervised enterprises, and urge enterprises to fulfill their social responsibilities.

II. Main Responsibilities

1. The Commission shall, as authorized by the People’s Government of Huaihua City, perform its duties as an investor in line with the Company Law of the People’s Republic of China, Law of the People’s Republic of China on the State-Owned Assets of Enterprises, and other laws and administrative regulations, and step up management of the state-owned assets of supervised enterprises.

2. The Commission shall supervise the maintenance and increase of the value of state-owned assets of supervised enterprises. It shall establish and improve the indicator system for maintaining and increasing the value of state-owned assets, formulate assessment standards, and supervise the value maintenance and increase efforts of supervised enterprises through statistics and auditing. It shall also work with relevant departments to do a good job in wage distribution management of supervised enterprises as per the wage macro-control policies, develop the income distribution policies for heads of supervised enterprises, and organize their adoption.

3. The Commission shall guide and promote the reform and restructuring of state-owned enterprises; advance the development of the modern enterprise system for state-owned enterprises; improve the corporate governance structure; and strategically improve the layout and structure of the state-owned sector. It shall also guide supervised enterprises to introduce strategic investors, and promote property rights (equity) investment and capital cooperation; strengthen cooperation with central state-owned enterprises and enterprises affiliated to Hunan Province; organize and coordinate the cooperation with such enterprises in a centralized way.

4. The Commission shall, according to legal procedures, appoint, dismiss and evaluate responsible persons of supervised enterprises, and reward or punish such persons based on their business performance; establish a personnel selection and employment mechanism that meets the requirements of the socialist market economy system and modern enterprise system; and refine the incentive and constraint system for business operators.  

5. The Commission shall, in accordance with relevant regulations, dispatch a board of supervisors to supervised enterprises on behalf of the People’s Government of Huaihua City, and undertake the daily management of the board of supervisors.

6. The Commission shall organize supervised enterprises to hand over gains from state-owned capital; participate in the formulation of relevant management rules and measures for the operation budget of state-owned capital; draft and implement the budgets and final accounts of state-owned capital operation as required.

7. The Commission shall be responsible for the basic management of state-owned assets; develop measures, rules and regulations on the regulation of such assets; guide and supervise relevant regulation work of counties (cities and districts) in accordance with law.

8. The Commission shall fulfill its responsibilities as an investor to supervise and inspect the implementation of national guidelines, policies, laws, regulations and standards on workplace safety by supervised enterprises.

9. The Commission shall guide and supervise the management of legal advisors of supervised enterprises.

10. The Commission shall undertake other tasks assigned by the People’s Government of Huaihua City.

Tel: 0745-2713214

Add: Building A, Civic Service Center, Huaihua

Office Hours: Summer (July 1 - September 30): 8:00 a.m. -12:00 p.m., 3:00 p.m. -6:00 p.m.;

Winter (October 1 - June 30 of the following year): 8:00 a.m. -12:00 p.m., 2:30-5:30 p.m.

（Translated by Yu Jie)