New head for SASAC

China Daily (Hong Kong) - - BUSINESS - By LI YANG liyang@chi­

Zhang Yi, vice- chair­man of the State- owned As­sets Su­per­vi­sion and Ad­min­is­tra­tion Com­mis­sion, was pro­moted to chair­man of the main State-owned en­ter­prises’ ad­min­is­tra­tive and man­ag­ing body on Tues­day.

He fills the va­cancy left by Jiang Jiemin, for­mer head of the com­mis­sion, who was sacked in Septem­ber for “se­vere vi­o­la­tions of dis­ci­pline”.

The of­fi­cial web­site of the com­mis­sion changed Zhang’s ti­tle from vice-chair­man to chair­man qui­etly on Christ­mas Eve and con­firmed his ti­tle change to the me­dia on Wednes­day.

Both Zhang and Jiang were trans­ferred to work at the com­mis­sion as vice-chair­man and chair­man, re­spec­tively, in March 2013, from their for­mer posts as Party chiefs of Ningxia Hui au­ton­o­mous re­gion and China Na­tional Pe­tro­leum Corp. Zhang has ac­tu­ally been car­ry­ing out the sub-chair­man’s du­ties since Jiang’s dis­missal.

Born in 1950 in Hei­longjiang prov­ince and ma­jor­ing in forestry at col­lege, Zhang’s recorded ca­reer started as a pre­fec­tural Party sec­re­tary of the Greater Khin­gan Moun­tains in Hei­longjiang. He quickly worked his way up to pro­vin­cial leader in Hei­longjiang, He­bei and Ningxia and then to vice-Party sec­re­tary of the Com­mu­nist Party Cen­tral Com­mit­tee’s Dis­ci­pline In­spec­tion Com­mis­sion.

Zhang is the fourth head of the com­mis­sion since its es­tab­lish­ment in 2003. It is re­spon­si­ble to in­vestors and su­per­vises and man­ages 113 large State-owned en­ter­prises as well as many of their branch busi­nesses.

Strong in Party work, Zhang does not have as daz­zling a ca­reer record in eco­nomics, fi­nance and man­age­ment as his three pre­de­ces­sors.

The re­tire­ment age for min­is­te­rial of­fi­cials is 65 in China. The re­main­ing two years for Zhang, if he works in his new post un­til his re­tire­ment, will not be easy for him be­cause the com­mis­sion is in charge of sketch­ing out and im­ple­ment­ing a series of press­ing Sta­te­owned en­ter­prises re­forms, ac­cord­ing to the Third Plenum of the 18th Cen­tral Com­mit­tee of the Com­mu­nist Party of China.

The re­form plan in­di­cates that by 2020, 30 per­cent of State-owned en­ter­prises’ prof­its should be handed over to the govern­ment to im­prove the liveli­hood of the gen­eral pub­lic. Cur­rently, the ra­tio is lower for gen­eral State-owned en­ter­prises, SOE re­sources and en­ergy giants and for mil­i­tary SOEs.

Low- key and ef­fi­cient, Zhang’s six months of work in the com­mis­sion has won wide sup­port from his col­leagues. His work ex­pe­ri­ence in vastly dif­fer­ent re­gions proves his abil­ity at co­or­di­na­tion and see­ing the big pic­ture, which is des­per­ately needed for Sta­te­owned en­ter­prise re­form that in­volves the in­ter­ests of var­i­ous par­ties and is of strate­gic im­por­tance for na­tional de­vel­op­ment.

State- owned en­ter­prise re­form en­tails changes in the ac­tiv­i­ties of the com­mis­sion in the first place. The pri­mary task for Zhang, un­prece­dented for his pre­de­ces­sors, is to re­de­fine the com­mis­sion’s du­ties from an almighty ad­min­is­tra­tor of hu­man af­fairs, man­age­ment is­sues and as­sets of State- owned en­ter­prises into a more pro­fes­sional su­per­vi­sor of their as­sets only, Peng Jian’guo, a re­searcher with the com­mis­sion, pointed out.

Huang Shuhe, vice-chair­man of the com­mis­sion, said at a re­cent news con­fer­ence that SASAC is con­sid­er­ing whether to set up some Sta­te­owned cap­i­tal in­vest­ment and man­age­ment com­pa­nies and sup­port qual­i­fied SOEs to re­or­ga­nize them­selves as State- owned cap­i­tal in­vest­ment cor­po­ra­tions.

“The State- owned as­sets su­per­vi­sors at var­i­ous lev­els will not in­ter­fere with in­di­vid­ual en­ter­prises’ au­ton­omy in man­age­ment and the en­ter­prises’ le­gal per­sons’ prop­erty rights,” added Huang.

An­a­lysts be­lieve the com­mis­sion’s in­ter­nal depart­ment and la­bor dis­tri­bu­tion will change ac­cord­ingly.

Sec­ond, ac­cord­ing to the re­form plan drawn up by the CPC, the com­mis­sion ur­gently needs to pro­mote the de­vel­op­ment of a mixed- own­er­ship econ­omy in State-owned en­ter­prise re­forms by ac­tively sup­port­ing the par­tic­i­pa­tion of pri­vate cap­i­tal in the SOE share­hold­ing ad­just­ments.

Huang said: “We are de­bat­ing whether to clas­sify SOEs into dif­fer­ent cat­e­gories ac­cord­ing to their fields and per­for­mances and make dif­fer­ent share­hold­ing re­form plans and poli­cies for dif­fer­ent en­ter­prises” to avoid the loss of State-owned as­sets.

Zhang Yi, chair­man of the State-owned As­sets Su­per­vi­sion and Ad­min­is­tra­tion Com­mis­sion

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