875:“Article 22 The institution performing the functions of a contributor shall, according to the provisions of laws and administrative regulations and of the articles of association of the enterprise, appoint or remove, or suggest the appointment or removal of, the following personnel of a State-invested enterprise: (1) appointing or removing the president, vice-presidents, persons in charge of financial affairs and other senior managers of a wholly State-owned enterprise; (2) appointing or removing the chairman or vice-chairmen of the board of directors, directors, chairman of the board of supervisors, or supervisors of a wholly State-owned company; and (3) proposing candidate for the director or supervisor to the assembly or general assembly of shareholders of a State-owned-capital holding company or State-owned-capital joint stock company. In a State-invested enterprise representatives of the employees shall serve as the directors or supervisors, who shall be elected democratically by the employees according to the relevant provisions of laws and administrative regulations.”
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them in achieving their reform and development goals, but also serves as contributor/investor and appoints management team for SOEs. It is the actual controller the 98 central SOEs around China, that can be seen as "parent agency". That's why I said it is more than an administration agency and supervisory body. (though you can define it as not a "parent company", it depends on how you see it)
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899:"Article 11 The State-owned assets regulatory institution (in this sense, it means the central SASAC) under the State Council and such institutions established by the local people’s governments (the local SASAC) according to the regulations of the State Council shall, on authorization and on behalf of the people’s governments at the corresponding level,
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administers (ie the SOEs). Administering companies means the same as controlling them. However a “parent company” implies ownership. What SASAC is and what it does does not have an exact
English language corporate analogue, but it's wrong to describe it as a “parent company” for it's not a corporate entity. It's a government body or agency.
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It stipulates administrative duties. No mentions of SASAC being shareholders. The state is the shareholder and SASAC is not a corporate entity. It is just an administrative and supervisory body because its duties are to administer and supervise. It may perform the responsibilities of an investor, but
923:
As the administration agency for state-owned assets, SASAC plays a crucial role in the operations, strategic planning, investment, and supervision of central SOEs based on the Law. SASAC not only formulates policies and plans for central SOEs, overseeing their operations and management, assisting
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Infinty 0: “According to PRC Law on State-Owned Assets, Article 15 stipulates the SASAC’s responsibilities of the investor of state-owned assets. Article 16 stipulates the rights of the investor of state-owned assets. Article 22 stipulates that the SASAC, as the state-owned assets supervision and
949:
Which is exactly what I am trying to say. I am not disputing the law or what SASAC does. I am merely saying that SASAC is not a parent or holding company. We can add a line of text clarifying that SOEs are administered/controlled by SASAC, but my whole point is that SASAC doesn't own what it
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The State
Council and the local people’s governments may, where necessary, authorize other departments or institutions to perform, on behalf of the people’s governments at the corresponding level, the functions of a contributor in respect of the State-invested
883:
Again, irrelevant. 1) It says “performing the functions of a contributor shall...” not “shall perform the functions of a contributor/investor“ there is a difference. 2) That still doesn't make it a corporate entity nor a holding company for SOEs.
927:
I'm a
Chinese citizen and I have been working for one of the 98 central SOEs for more than 11 years. To be honest, it's even feel funny for me to argue with westerner/outsider for what SASAC is. I know who my boss is. Cheers bro.
912:
All institutions and departments that perform the functions of a contributor on behalf of the people’s governments at the corresponding level shall be referred to as the institutions performing the functions of a contributor
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As for
Article 16, please check with the context above and below, this Article belongs to Chart III - State-invested Enterprises which corresponds with Chart II - Institutions Performing the Functions of a Contributor (the
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it is not an investor because it doesn't own anything. It is again, not a corporate entity. A holding company by definition has to own its subsidiaries.
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How is this pertinent the question of SASAC being listed as a parent company? It doesn't even mention SASAC.
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administration agency of the State
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on
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on
Knowledge (XXG). If you would like to participate, please visit the project page, where you can join
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on
Knowledge (XXG). If you would like to participate, please visit the project page, where you can join
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on Knowledge (XXG). If you would like to participate, please visit the project page, where you can join
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Unless you back that up with sources that is original research which is not allowed on wikipedia.
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http://www.npc.gov.cn/zgrdw/englishnpc/Law/2011-02/15/content_1620615.htm
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