Supervisory boards help Guiyang State-owned companies achieve results

The supervisory boards of State-owned companies in Guiyang, Guizhou province, have stepped up management by continuously improving their service levels and inventing new work methods.

For example, Guiyang Big Data Industry Group and Guiyang Agricultural Investment Development Co, the two major State-owned companies in the city, are developing more healthily with self-disciplined organization thanks to the active board of supervisors.

Each company's supervisory board strictly follows the relevant laws and regulations, investigates corporate operations – including the financial situation, and participates in setting the agenda and deciding topics for related meetings.

Training sessions are often held to update their knowledge of accounting, auditing, finance and other business aspects. Meanwhile, work exchanges have increased to discuss practical experience and share innovative work methods.

Following the actual situation of the company's production and operation and the opinions of the board of directors, the board of supervisors adheres to the regular meeting system.

When sitting in on the company's board of directors' meetings as non-voting delegates, the supervisors' board puts forward solutions for the company's financial and operational issues and production management problems.

The supervisory board of Guiyang Big Data Industry Group recently filled out a self-inspection result sheet on the listing and trading of stocks of Guiyang Xunyou Technology, a subsidiary of the group. They also wrote a letter of commitment, which stated that they would not violate laws or regulations.

On Sept 23, the ninth meeting of the first board of directors of Guiyang Big Data Industry Group was held and attended by all of its supervisory board members.

They reviewed the request to establish Guizhou Honghai Technology Co and issued questions and suggestions on the above proposal. A final vote was made based on the proposal's content and research into the proposal's related materials.

The routine supervision has also been strengthened. According to a supervisory board member, their work includes keeping track of corporate business, carefully analyzing the company's financial statements, following the company's accounting statements' critical changes, and inquiring about significant abnormal changes.

Through these practices, they can see the company's management and reform and development trends. By representing investors' will, the supervisory boards have realized the preservation and appreciation of State-owned assets and prevented significant business risks.