a. Major functions

(1) To perform the duties of the fund-provider, and direct and advance the reform and reorganization of the state-owned enterprises (SOEs) under authorization of the Provincial Government and in accordance with the “Company Law of the People’s Republic of China”, the “Interim Regulations on Supervision and Administration of Enterprises’ State-Owned Assets” promulgated by the State Council, and other laws and administrative regulations; to supervise the value maintenance and appreciation of the state-owned assets under its supervision and administration; to enhance the administration of the state-owned assets; to advance the construction of the modern enterprise system in SOEs, and perfect the structure of company administration; to push forward the strategic readjustment of the state-owned economic structure and layout.

(2) To delegate the board of supervisors to some SOEs on behalf of the Provincial Government; to be responsible for the routine administrative work of the board of supervisors.

(3) To appoint, dismiss, assess, and reward leaders of the enterprises according to legal procedures; to establish the personnel selection and employment systems in line with the requirements of the socialist market economy system and the modern enterprise system; to perfect the encouraging and restraining systems to enterprises’ operators.

(4) To establish and perfect the index system of the value maintenance and appreciation of the state-owned assets; to supervise and control the operation situation of the value maintenance and appreciation of the state-owned assets through statistics and auditing, and to safeguard the rights and interests of the fund-provides of the state-owned assets.

(5) To administrate the budget of the state-owned assets in the enterprises, and to supervise the usage of the capital benefit.

(6) To draw up the drafts of the local rules and regulations on the supervision and administration of the state-owned assets; to formulate the system of the supervision and administration of the state-owned assets.

(7) To direct and supervise the administration of the state-owned assets at the city and county level.

(8) To undertake other matters assigned by the Provincial Government.