Vietnamese and Chinese officilas share experiences in management of state capital in enterprises

Present at the meeting with the SASAC delegation were representatives of the General Department, the Organization and Personnel Department and the Information Center of CMSC, and the State Capital Investment Corporation (SCIC).

Liu Xinwei, Deputy Director of SASAC’s Bureau of Performance Evaluation and Remuneration

Expressing his joy of having the opportunity to meet and work with CMSC leaders, Liu Xinwei said SASAC has been in operation since 2003, currently managing 95 state economic groups and corporations totaling CNY8 trillion in asset value. Regarding the supervision method, based on SASAC’s guidelines, businesses build and make their own investment processes and decisions, investment management policies and management structures for report to SASAC for supervision. Of the business quantitative management indicators, SASAC issues approval and performs supervision related to two basic norms – proportion of secondary businesses in corporations’ annual investment value, and debt asset control. The remaining quantitative indicators are just for reference to SASAC.

SASAC is focusing on managing state assets at enterprises, and promoting investment, reform and equitization of economic groups and corporations. Liu Xinwei expressed his wish that CMSC leaders will share with SASAC their experiences in state asset management in Vietnam.

Deputy Chairman of the Commission for the Management of State Capital at Enterprises (CMSC) Ho Sy Hung

Talking to SASAC representatives, CMSC Deputy Chairman Ho Sy Hung said SASAC is a prestigious manager of state capital in enterprises. In recent years, CMSC has reviewed and chosed applying a number of SASAC's operational and state capital management experiences. According to CMSC Deputy Chairman Ho Sy Hung, Vietnam is focusing on thinking innovation and encouraging state-owned enterprises to operate in accordance with the market mechanism.

Pham Tuan Anh, Director of CMSC’s General Department

Nguyen Ngoc Quy, Deputy Director of CMSC’s Organization and Personnel Department

At the meeting, Director of CMSC’s General Department Pham Tuan Anh and Deputy Director of CMSC’s Organization and Personnel Department Nguyen Ngoc Quy introduced SASAC representatives about state capital management and management decentralization in state-owned enterprises in Vietnam, and organization activities at CMSC and its affiliated groups and corporations.