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SASAC should also unveil firms with poor performance
Last Updated:2013-08-14 15:12 | CE.cn
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By Li Hongmei


China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) should not only unveil the operation details, but also disclose the scores of specific assessment indicators of all of the state-run firms it supervises.
The SASAC unveiled on August 5 the 2012 results and evaluation of the best A-level state-run enterprises, but did not disclose the performance of the 70 remaining B, C, D, E leveled state-owned enterprises for unknown reasons.

Last year, state-run enterprises reported negative growth in the first eight months until returning to positive growth in September. The shipping, coal and steel industries all reported a sharp decline in profits, with Air China, China Southern Airlines, China Coal, China National Gold, China Guangdong Nuclear, which were listed as A-level companies in 2011, falling out of the A-level category last year.

The SASAC failed to disclose the results of the lower leveled firms in an attempt to avoid questions concerning their poor performance. However, publicly disclosing the performance of every state-run enterprises is a basic requirement, according to the commission's own guidelines.

In the past, the commission has repeatedly vowed to strengthen the quality of state-run enterprises and improve their competitiveness, aiming to enable them to compete with international counterparts.

After disclosing for the first time the 2007 and 2008 performance of all the 118 state-run enterprises in 2009, the commission pledged that it would also be more transparent in the future.

The commission said that it would aim to supervise the listed companies closely to gradually work towards fully disclosing the operation results of the state-run enterprises.

Hopefully, the commission will present a full picture of all the state-run enterprises portraying not only the A-level ones but also those with poor performance so that its evaluation could become more transparent and objective, and more trustworthy.

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