Qianxinan State-owned Assets Supervision and Administration Commission

The State-owned Assets Supervision and Administration Commission of Qianxinan Prefecture People's Government (hereinafter referred to as “Qianxinan SASAC”) is a functional department of the Qianxinan Prefecture People's Government. It represents the Prefectural People's Government in exercising investor responsibilities, supervises state-owned assets of enterprises under the Prefectural People's Government, and strengthens the management of state-owned assets in supervised enterprises.

I. Primary Responsibilities

(1) Acting upon authorization from the Prefectural People's Government, and in accordance with laws and administrative regulations such as the Company Law of the People's Republic of China and the Law of the People's Republic of China on State-Owned Assets of Enterprises, the Commission shall: - Exercise shareholder duties on behalf of the Prefectural People's Government; - Perform state-owned asset supervision duties primarily focused on capital management for state-owned enterprises authorized by the Prefectural People's Government; - Diligently fulfill the duties of enjoying asset returns, participating in major decision-making, and selecting managers as legally entitled to the invested enterprises.

(2) Oversee the preservation and appreciation of state-owned assets in supervised enterprises. Establish and refine an indicator system and accountability framework for asset preservation and appreciation, formulate and improve assessment standards, and monitor asset performance through statistical analysis and audits. Manage wage distribution in supervised enterprises, develop compensation management measures for enterprise leaders, and oversee their implementation.

(3) Undertake the duties of the Prefectural State-Owned Enterprise Reform Leading Group Office, handling its daily affairs. Research and draft comprehensive policies and measures for reforming and restructuring state-owned enterprises across the prefecture, advance such reforms, and promote strategic adjustments to the layout and structure of the state-owned economy. Guide and advance the reform and restructuring of supervised enterprises, promote the establishment of modern enterprise systems within them, and improve corporate governance structures.

(4) Improve investment supervision and state-owned capital operation mechanisms, guide supervised enterprises in lawful and compliant operations, and prevent and mitigate risks. Refine accountability mechanisms for illegal or non-compliant business operations and investments by supervised enterprises, investigate major losses of state-owned assets, and categorize, address, and oversee the resolution of identified violations.

(5) Organize the submission of state-owned capital returns by supervised enterprises; participate in formulating management systems and measures for the state-owned capital operating budget; oversee the preparation and execution of the state-owned capital operating budget for supervised enterprises.

(6) In conjunction with departmental responsibilities, oversee the production safety, fire safety, stability maintenance, petition handling, and “streamlining administration, delegating power, and improving services” reform efforts of supervised enterprises; ensure compliance with regulations on big data development and application, as well as government transparency.

(7) Oversee the basic management of state-owned enterprise assets; draft local policies and measures for state-owned asset supervision and management; guide state-owned asset supervision and management work in counties (cities, new districts).

(8) Adhere to the principle of Party control over cadres, establish personnel selection and appointment mechanisms compatible with the socialist market economy and modern enterprise systems, and improve incentive and constraint systems for managers. Conduct evaluations, appointments, and removals of responsible persons in supervised enterprises through statutory procedures as authorized, and implement rewards and punishments based on operational performance. Oversee the selection and appointment of middle-level cadres, talent development, and retirement affairs in supervised enterprises.

(IX) Undertake the duties of the Office of the Prefectural Party Committee Leading Group for Party Building in State-Owned Enterprises; coordinate and guide Party building work in state-owned enterprises under county (city, new district) and prefectural jurisdiction; handle Party building matters for centrally and provincially administered state-owned enterprises stationed in the prefecture as authorized; arrange, deploy, and supervise Party building work in supervised enterprises; oversee Party building and mass organization development within the agency; manage agency cadre personnel affairs, education and training, and institutional staffing.

(10) Handle other matters assigned by the Prefectural Party Committee and Prefectural People's Government.

(11) Adjustment of Responsibilities. The economic responsibility audit of leading cadres in state-owned enterprises and the duties of the supervisory board have been transferred to the Prefectural Audit Bureau.

Office Address: Accounting Building, No. 1 Yongle East Road, Xingyi City, Qianxinan Prefecture, Guizhou Province

Tel: 0859-3117205

Fax: 0859-3117205

Postal Code: 562400