State-owned firms asked to strengthen Party leadership
Global Times
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An engineer checks on a tunnel boring machine at a CITIC Heavy Industries plant. (Photo: VCG)

The Central Committee of the Communist Party of China (CPC) issued a trial regulation calling for the strengthening of party leadership in corporate governance at state-owned enterprises (SOEs), the Xinhua News Agency reported Sunday. 

SOE party organs must combine strengthening leadership with improving corporate governance and bring the party’s leadership into “all aspects” of governance, Xinhua reported.

The trial regulation listed six areas of the corporate decision-making process where party leadership must be exercised and includes the implementation of CPC national development measures, corporate development and reform, asset restructuring, and corporate structure.

The trial regulation also called on SOEs to push forward reforms, enhance competitiveness, and increase risk management capabilities.