Guiyang SASAC urges external directors to service for SOEs

The 2022 annual review meeting of external directors of supervised enterprises is held in Guiyang, Guizhou province. [Photo/guiyang.gov.cn]

The Guiyang State-owned assets supervision and administration commission (SASAC) held its 2022 annual review meeting of external directors of supervised State-owned enterprises on May 5. Huang Yonghui, Party secretary and director of the commission, presided over the meeting.

External director refers to a director who is not an employee of the company, and who occupies a seat on the board of directors. This system is meant to ensure the board makes corporate decisions and value judgments independently of management.

At the meeting, 17 external directors reported on the performance of their duties in 2022, analyzed the existing problems and deficiencies in their work, as well as put forward work plans and suggestions for this year.

Huang pointed out that in the past year, the external directors have provided many useful suggestions for enterprises' strategic planning, project decision-making, risk control, reform and development, and have promoted the improved efficiency of corporate governance.

In addition, at the meeting, external directors were urged to shoulder more responsibility and put forward opinions based on their own professional advantages and value judgments. They were also encouraged to communicate with Guiyang SASAC and supervised enterprises in a timely manner, and improve their knowledge and abilities to contribute to enterprises' reform and development.