Shanghai SASAC Restores Regulatory Power Of Financial Offices To Municipal Financial Enterprises

Shanghai's financial state assets regulatory framework has been restructured, and Shanghai SASAC has recovered the regulatory power of the financial office for municipal financial enterprises.

"There is still some challenge to the SASAC. They do not know much about the financial sector."

A senior bank official in Shanghai said: "but the separation of state assets management and industry management is a basic train of thought. The industrial enterprises in Shanghai have long been responsible for the industry management according to the economic and Information Work Committee, and the SASAC is responsible for the separation of assets management mode."

The official website of the Shanghai state owned assets supervision and Administration Commission showed that in June 2nd, the Shanghai municipal financial enterprises unified supervision working conference held a clear supervision on the termination of the entrusted supervision of the municipal financial enterprises. The relationship between the supervision and management of state-owned assets of the enterprises was adjusted from the original financial office to the municipal SASAC, the relationship between the party organizations and the management mode of the leading group were also correspondingly pferred or adjusted, indicating that Shanghai formally implemented unified supervision over the municipal financial enterprises.

Tu Guangshao, standing committee member and deputy mayor of the municipal Party committee, pointed out at the meeting that the adjustment is a common need to speed up the unified supervision of municipal operating state-owned capital, accelerate the integration of industrial capital and financial capital, accelerate the pformation of government functions and deepen the reform of administrative system.

According to the official website of Shanghai SASAC, the intention of the adjustment lies in the adoption of the real economy (industry) + virtual economy (Finance) + technology.

The multilevel integration of the Internet will create a number of modern financial enterprises in Shanghai to build an international financial center with outstanding core competitiveness, lasting innovation, good service and efficiency, and influential competitiveness both at home and abroad.

After the adjustment is completed, the Shanghai municipal SASAC will fulfill the responsibilities of investors according to the requirements of the municipal Party committee and the municipal government.

Prior to this, the Shanghai SASAC entrusted the supervision of municipal financial enterprises to Shanghai finance office for many years.

It is precisely because of this, Shanghai vice mayor Zhou Bo at the above Shanghai municipal financial enterprises unified supervision work conference, to Shanghai SASAC put forward three requirements, including active, active service, classified supervision and joint coordination.

"We must learn to master professional knowledge and further understand the important role of City financial enterprises in the construction of financial centers and science innovation centers, and be familiar with the situation of leading cadres in financial enterprises.

We must understand and grasp the particularity and importance of the financial industry.

We should respect and give full play to the guiding role of the Municipal Finance Committee and the municipal finance office.

He stressed.

According to incomplete statistics, Shanghai's state-owned assets

Institutions include: Shanghai Pudong Development Bank, Shanghai bank, Shanghai agricultural business bank, Shanghai trust, Guotai Junan Securities, Shanghai securities, Shenyuan Hongyuan securities, China Pacific Insurance, Yangtze River endowment insurance, etc.