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Establish an Information Disclosure System for State-Owned Enterprises (No 180, 2015)
2015-12-14
By Ma Shuping & Liao Bo, Research Team on "Deepening Reform of State-owned Enterprises: Problems and Policy Options", Enterprise Research Institute of DRC
Research Report No 180, 2015 (Total 4865)
Abstract:
Relevant facts both from home and abroad indicate that information disclosure in state-owned enterprises (SOEs), due to the special attribute of their shareholders, is more important than in general enterprises. Many countries require SOEs to disclose information on enterprise management, financial position, major operations, major risks, and social responsibility to the general public in an authentic, accurate, timely and comprehensive manner. Many countries also regard information disclosure as key part and a crucial foundation for SOEs' management. So far, China has not yet established a system of information disclosure and SOEs' performance in terms of information disclosure is far from meeting the demand of the general public. Establishing a system of information disclosure for SOEs should be an important task for their reform. It is suggested that relevant department launch the work regarding SOEs' information disclosure as soon as possible and carry out regulation on a regular basis; formulate criteria on SOEs' information disclosure in line with listed companies; improve the supervision system that combines independent audit and internal audit; and improve laws and regulations with respect to SOEs' information disclosure.
Key words: enterprise management, information disclosure system, SOE, supervision
