On June 15th, in order to thoroughly implement President Xi’s important instructions on "Breakthroughs are Needed during the 14th Five-Year Plan Period for the Comprehensive Revitalization of Northeast China in the New Era" and the significant decisions and deployments of "Promoting New Breakthroughs in the Comprehensive Revitalization of Northeast China" made at the 20th CPC National Congress, implement the deployment requirements of Three-Year Action Plan for New Breakthroughs in the Comprehensive Revitalization of Liaoning (2023-2025) and Three-Year Action Plan for Dongbei University of Finance and Economics to Serve New Breakthroughs in the Comprehensive Revitalization of Liaoning, and serve three-year action for new breakthroughs in the comprehensive revitalization of Liaoning with new atmosphere, new responsibility and new action, DUFE Forum of New Breakthroughs in Comprehensive Revitalization “How to Enhance the Compliance and Risk Control Capability of State-Owned Enterprises in Liaoning”, sponsored by Dongbei University of Finance and Economics, jointly undertaken by School of Accounting, Scientific Research Department and Publicity Department of the CPC Committee, was successfully held in Conference Room 245 of Quanxue Building.
The forum was hosted by Hang Liu, Dean of School of Accounting of Dongbei University of Finance and Economics. Xueren Zhou, Director of Scientific Research Department of Dongbei University of Finance and Economics, attended the forum and delivered a speech. Li Cheng, Deputy Director of the State-Owned Assets Supervision and Administration Commission of Dalian, Xinghai Zhang, Deputy Secretary of the Party Committee and General Manager of Wafangdian Bearing Group, Dapeng Tang, Deputy Director of Scientific Research Department of Dongbei University of Finance and Economics, Chunfang Cao, Professor of Sun Yat-sen University, Guanmin Liao, Professor of Renmin University of China, and others attended the forum and made keynote speeches.
Li Cheng, on the topic of “Compliance Management and Risk Prevention of State-Owned Enterprises”, pointed out that corporate compliance is a self-governance approach for enterprises to operate in accordance with the law and regulations, and to prevent and control compliance risks, emphasized to adopt the compliance law that combines hard laws (State-Owned Assets Law, Company Act, regulations) and soft laws (industry standards), and the compliance management with the coexistence of management behavior and professional performance behavior, and establish three lines of defense for the company's production department, compliance department, and regulatory department, to comprehensively promote compliance management and risk prevention of state-owned enterprises in Liaoning province.
Xinghai Zhang, on the topic of “Discussion on Governance and Compliance Risk Control of State-Owned Enterprise Reform”, systematically combed the reform process of state-owned enterprises since reform and opening-up, and pointed out the governance difficulties from the perspectives of clear property rights, clear responsibilities, and management science. He introduced the important nodes of compliance risk control of state-owned enterprises from the aspects of avoiding governance risk, strategic risk, special decision-making risk, executive risk, commercial risk and sustainable development risk, combining the experience of system and mechanism reform of Wafangdian Bearing Group.
Dapeng Tang, on the topic of “Theoretical Analysis and Practical Application of Enhancing the Compliance Risk Control Capability of Liaoning State-Owned Enterprises”, interpreted multiple policies, including the compliance management policy system of the State-Owned Assets Supervision and Administration Commission of the State Council, the internal control policy system of the State-Owned Assets Supervision and Administration Commission of the State Council, and the compliance internal control policy system of the State-Owned Assets Supervision and Administration Commission of Dalian. He proposed that local state-owned enterprises in Liaoning can improve their capability to prevent risks and promote compliance to achieve high-quality development by establishing and improving a compliance internal control system, and implementing policy requirements such as "compliance management, internal control, and risk management".
Chunfang Cao, on the topic of “Confirmation of the Main Business of State-Owned Enterprises and their Innovative Effects”, reviewed the institutional change process of state-owned enterprises focusing on their main businesses in the past two decades, and explored the economic consequences of this institutional change from the perspective of R&D innovation. He believes that the confirmation of the main business has a significant role in promoting the innovation level of state-owned enterprises, and is an important measure for state-owned enterprises to better serve the national strategic goal, better adapt to high-quality development, and build the new development pattern.
Guanmin Liao, on the topic of “Equity Incentive Supervision, Relative Performance Evaluation, and Corporate Investment Efficiency of State-Owned Enterprises”, discussed the issue of whether using relative performance evaluation can improve the equity incentive effect of state-owned enterprises. He proposed that using relative performance evaluation in equity incentive contracts can improve the investment efficiency of state-owned enterprises. When the incentive intensity and the industry growth are high, the positive effect of relative performance evaluation is more obvious. From the final effect, using relative performance evaluation in equity incentive contracts can enhance the value of state-owned enterprises.
This forum took a deeper dive into how to enhance the compliance and risk control capabilities of Liaoning state-owned enterprises. Experts and scholars from government departments, state-owned enterprises, and higher education institutions gathered together to jointly study feasible solutions to improve the development quality and prevent risks of Liaoning state-owned enterprises. This forum has strengthened the idealistic collision and communication among various sectors of government, industry, academia, and research, and has a positive promoting effect on improving the quality of our university's discipline construction and helping Liaoning achieve new breakthroughs in comprehensive revitalization.
