Xi stresses CPC leadership of state-owned enterprises

Liu Yunshan (C), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, speaks at a national meeting on building the role of the Party within state-owned enterprises (SOEs) in Beijing, capital of China. The national meeting on building the role of the Party within SOEs was held here from Oct. 10 to 11, 2016. (Xinhua/Xie Huanchi)

Xi said the Party should lead SOEs in political, ideological and organizational aspects and Party organizations in SOEs should take charge of the direction and general aspects of SOEs' development and the implementation of policies.

The Party's power and responsibilities in SOE decision-making, implementation and supervision processes should be clearly defined, Xi said, calling on Party organizations and other corporate governance bodies of enterprises to properly perform their respective duties.

Supervision over officials in key positions needs to be intensified, he said.

Xi stressed the importance of protecting SOE workers' rights to know, participate, express and supervise within the SOEs, urging improvement of the democratic management system with the workers' congress as its basic form.

Important matters concerning the immediate interests of workers must be submitted to workers' congresses for deliberation, and the system to ensure workers' representation as the directors and supervisors of SOEs should also be improved, Xi said.

Party committees at local levels should incorporate SOE party building into their overall work plans, Xi said, also ordering greater efforts to fight corruption, extravagance, embezzlement of state assets and other malpractice in SOEs.

Liu Yunshan, Wang Qishan and Zhang Gaoli, who are members of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting.

Liu said efforts should be made to integrate party building with business operations to transform the fruits of party building into competitive edges for the enterprises.

Representatives from SOEs such as the Industrial and Commercial Bank of China and China Aerospace Science and Technology Corporation also gave speeches at the meeting.