Li Zhen, Vice Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), met with a Russian delegation led by Yakovenko Vadim, Head of the Federal Agency for State Property Management of the Russian Federation (Rosimushchestvo), in Beijing on November 18.
They exchanged views on topics including the legal and institutional frameworks for state-owned assets supervision, digitalized oversight of state-owned assets, and corporate governance of state-owned enterprises (SOEs).
Li Zhen, Vice Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), meets with a Russian delegation led by Yakovenko Vadim, Head of the Federal Agency for State Property Management of the Russian Federation (Rosimushchestvo), in Beijing on November 18. [Photo/sasac.gov.cn]
Li noted that both Rosimushchestvo and SASAC are responsible for the supervision and management of state-owned assets and SOEs, and have many similarities in mandates. SASAC is willing to work with Rosimushchestvo to implement the important consensus reached by the two heads of state during their two meetings this year, to advance cooperation in traditional areas such as energy, connectivity, agriculture and aerospace, and to tap cooperation potential in emerging fields including artificial intelligence, the digital economy and green development, so as to foster new drivers of cooperation, he said.
He also emphasized the importance of implementing the Joint Communiqué of the 30th Regular Meeting Between Chinese and Russian Heads of Government, strengthening departmental cooperation and carrying out exchanges on policies and experience related to the SOE reform, development and supervision, with a view to creating favorable conditions for Chinese and Russian enterprises to expand cooperation.
Yakovenko expressed appreciation for China’s achievements in SOE reform, development and supervision. He introduced Russia’s state-owned assets regulatory system, SOE corporate governance practices, and progress in digitalized oversight. He also expressed readiness to enhance exchanges of experience with SASAC on board operations, KPI system development, management incentives, internal supervision and risk management, in order to build a long-term, trustworthy and practical partnership.
(Executive editor: Hao Wen)
