The Party Committee of the Institute convened its 10th theoretical study session of the central group.
Release date:
2020-12-21 17:46
Source:
On December 17, the Party Committee of the institute convened its 10th study session of the Theoretical Study Center Group. Comrade Sun Xinyong, a member of the Party Committee and vice president, led the session, during which participants focused on studying documents such as “Comprehensive Law-Based Governance of Enterprises Is an Inevitable Requirement for the High-Quality Development of Central Enterprises” and “The 50 Financial ‘Red Lines’ That Must Not Be Crossed.” The meeting was chaired by Wang Qingfeng, Secretary of the Party Committee and vice president, with attendance from members of the Party Committee and relevant leaders.
The meeting noted that the 19th National Congress of the Communist Party of China enshrined the principle of governing the country according to law in all respects as a fundamental strategy for upholding and developing socialism with Chinese characteristics in the new era. State-owned enterprises, particularly central SOEs, constitute an important material and political foundation of socialism with Chinese characteristics; they are a key pillar and a vital source of support for the Party’s governance and national rejuvenation, and form an integral part of the Party and the state’s governance system. For central SOEs, implementing the principle of governing the country according to law in all respects first and foremost requires advancing the rule of law across the entire enterprise.
At the meeting, Sun Xinyong led all participants in an in-depth analysis of the necessity and inevitability of advancing comprehensive law-based governance within central enterprises. He examined the challenges these enterprises face in this endeavor and outlined measures to establish and improve institutional mechanisms—through “four further steps”: further refining the corporate governance system; further strengthening the organizational and institutional frameworks for rule-of-law development; further deepening the integration of legal functions with business operations; and further cultivating a high-caliber team of legal advisors—to comprehensively promote law-based management across central enterprises. Drawing on the practical realities of our institute, Sun Xinyong also guided everyone in a focused study of 50 prohibited financial practices covering five areas—budgetary management, official hospitality, meetings and events, official business travel, and temporary overseas (or cross-border) assignments—reminding all to remain vigilant about red-line boundaries and to conduct themselves in a manner that is standardized and disciplined.
Following the conclusion of the study session, the participating comrades engaged in in-depth exchanges and discussions. The meeting concluded that the content of this session was closely aligned with practical work and offered strong, actionable guidance. As a central state-owned enterprise, it must take the lead in advancing law-based corporate governance, ensuring strict compliance with laws and regulations at every stage—ranging from project acquisition and contract signing to project implementation—and in all key areas, resolutely refraining from crossing any legal red lines.
The meeting mandated that the Institute’s Planning and Operations Department (Audit Department), the Asset and Finance Department, and other relevant units regularly take the lead in organizing interdepartmental symposiums and study sessions, helping all departments gain a comprehensive understanding of the institutional frameworks and higher‑level requirements related to corporate governance under the law and financial management. This is intended to further strengthen legal awareness and a rule‑of‑law mindset, mitigate financial and major operational risks, and strive toward the goal of building a state‑owned enterprise that is “well‑governed, well‑managed, compliant in operations, and law‑abiding and trustworthy.”
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