According to the Interim Measures for the Administration of Financing of State-owned Enterprises
Article 4 (Principle Provisions) Enterprises should strictly abide by the relevant laws and regulations in making decisions on investment and financing, follow the scientific and democratic decision-making procedures, standardize the feasibility study, and implement the system of accountability. Investment and financing decisions should adhere to the principle of prudence, fully expected investment risks. In the feasibility study demonstrates the existence of uncertainty should be a negative judgment, there are major uncertainties in principle, the project shall not be implemented.
Two, according to the notice on the issuance of "central enterprises to support and cooperate with the Supervisory Board in accordance with the law to carry out the current supervision rules (for trial implementation)"
Article 11 Enterprises shall report to the Supervisory Board in a timely manner involving the dynamics of business management and reform and development, as well as matters of concern to the contributors, and other important information.
The scope, content, form and time limit of the report on important situations shall be determined by the enterprise in consultation with the Supervisory Committee.
Article 12 The supervisory board shall report in advance on important situations involving enterprise strategic planning, major investment and financing, restructuring and reorganization, transfer (acceptance) of property rights, remuneration allocation, performance assessment, profit distribution, and departure of key leadership personnel abroad.
Expanded InformationArticle 5 of the Interim Measures for the Administration of Financing of State-owned Enterprises? (Project Requirements)
Enterprises should meet the following requirements in selecting investment projects:
(a) conform to the requirements of the relevant industrial policies of the state, provinces and municipalities;
(b) conform to the requirements of the municipal state-owned economic layout and structural adjustment;
(c) conform to the requirements of the enterprise's development strategy and planning;
(d) contribute to the highlighting of the main business, and improve the core competitiveness of the enterprise;
(v) the scale of the investment shall be compatible with the actual capacity of the enterprise;
(vi) it shall be in line with the enterprise's investment decision-making procedures and relevant management system.
Article 6? (Obligation of property rights representatives)
Enterprise state-owned property rights representatives are directly responsible for investment and financing decision-making, should be in accordance with the requirements of these Measures and other relevant management regulations, to bring the enterprise to carry out feasibility studies of investment projects to demonstrate the work. In the decision-making process, should effectively implement the will of the contributors, safeguard the rights and interests of the contributors, and conscientiously fulfill the relevant approval procedures, in accordance with the approval of the Municipal State-owned Assets Supervision and Administration Commission of the enterprise decision-making process to express their views and exercise their right to vote.
SASAC - "Central enterprises to support and cooperate with the Supervisory Board in accordance with the law to carry out the current supervision work rules (