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UPDATED: March 6, 2011 NO. 10 MARCH 10, 2011
Creating World-Class Companies
China sets the bar high for its central SOEs to become competitors with major global enterprises
By LAN XINZHEN
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Central SOEs will be forced to think strategically and have a broad global vision, quicken their "going global" pace, expand their overseas business to improve their international market shares, optimize the industrial chain and value chain under the strategy of internationalized operation. At the same time, they must also master international competition rules, integrating themselves into the mainstream of the world economy.

Implementing the strategy of strengthening enterprises through talented personnel means that both domestic and overseas talent resources should be fully developed and utilized. Central SOEs should promote the balanced development of the representatives of investor, executives, scientific and technological talent and skilled technicians in order to constantly optimize the talent structure and greatly enhance their competence.

Implementing the strategy of harmonious development means that central SOEs need to realize harmonious development with society and environment in pursuing economic benefits. Central SOEs should establish and improve the mechanism of strategy making, governance optimization, integration, performance evaluation and communication for the fulfillment of corporate social responsibilities and serve as the role model in executing their social responsibilities.

"Meanwhile, we will further improve central SOEs' corporate governance structure, and perfect the state-owned assets supervision and administration system, and further marketize central SOEs' internal system," said Shao.

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