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2021 List of Powers to be Granted and Delegated by Beijing SASAC Released

Thu, 09 Sep 2021
Categories: China Legal Trends

On 5 Aug. 2021, “the List of Powers to be Granted and Delegated by State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality (2021 Edition)” (北京市国资委授权放权清单(2021年版))("the List") was released.

The List is divided into three parts, including three categories with 23 items in total. There are ten items of powers to be granted, 13 items of powers to be delegated; five items of planning and investment supervision, 12 items of property rights management, and six items of performance assessment and remuneration management.

Regarding planning and investment supervision, the List authorizes the boards of directors of pilot enterprises subject to comprehensive reform to formulate medium- and long-term strategic planning and sub-planning for development, deliberate annual investment plans, and submit them to the State-owned Assets Commission of People's Government of Beijing Municipality (Beijing SASAC) for recordation, and decide on unplanned investment within a certain scope. Moreover, if the pilot enterprises belong to the prescribed companies of two types, their boards of directors are authorized to decide to appropriately carry out innovation of business models closely related to the main businesses.

 

 

Cover Photo by Shio Yang (https://unsplash.com/@shioyang) on Unsplash

Contributors: CJO Staff Contributors Team

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