Hangzhou Municipal State-owned Assets Supervision and Administration Commission (Municipal State-owned Assets Commission in short), as delegated by the Hangzhou Municipal Government, performs the duties of the state-owned asset investor on behalf of the nation. The CPC Municipal State-owned Assets Commission Committee performs the duties as stipulated by the CPC Hangzhou Municipal Committee. Delegated by the municipal government, the Municipal State-owned Assets Commission supervises and administrates the city’s state-owned asset operation companies, licensed operation companies (groups), and state-owned assets owned by enterprises  under direct supervision. It also supervises and administrates collectivity-owned assets of enterprises affiliated to the municipal government. 
 

Main obligations of the Municipal State-owned Assets Commission:                

1. Performs the duties of state-owned asset investor, supervises state-owned asset for operational purposes, and enhances state-owned asset management as stipulated by the Company Law of the People's Republic of China and the Law of the People's Republic of China on State-Owned Assets in Enterprises. 

2. Implements laws, regulations and policies of the nation on state-owned asset administration. Drafts regional regulations, rules about state-owned asset administrations as delegated. Devises, supervises related rules and systems. Instructs on, supervises administration of state-owned assets in districts, counties and county-level cities. 

3. Advises on economic distribution and strategic adjustment. Pushes ahead strategic adjustment of state-owned economic structure and distribution. Instructs on, pushes ahead reform, reorganization of state-owned enterprises. Instructs on, promotes improvement of modern enterprise system for state-owned companies. Improves corporate governance structure to form mechanisms featured by clear-defined work responsibilities, efficient operations, and effective check-and-balance system. 

4. Selects, appoints and dismisses managers of enterprises supervised by the Municipal State-owned Assets Commission by following legal processes and stipulations released by the CPC Hangzhou Committee. Forms talent selection and employment mechanisms that conforms with requirements of the socialist market economic system and modern enterprise system. Improves incentive and discipline systems for the managers. Evaluates operating results of the managers and execute rewards or punishments accordingly. Responsible for managing, building the Party branches of the enterprises supervised by the Municipal State-owned Assets Commission.

5. Appoints board directors, supervisors and chief financial officers to  the enterprises supervised by the Municipal State-owned Assets Commission. Administrating the executives on a routine basis. 

6. Organizes the enterprises supervised by the Municipal State-owned Assets Commission to hand in proceeds from operating state-owned assets. Participates in forming systems and methods for managing operating budgets of state-owned assets. Responsible for devising, implementing such budgets of the enterprises supervised by the Municipal State-owned Assets Commission. 

7. Forms, improves KPIs to preserve and increase value of state-owned assets. Devises metrics for performance evaluation. Responsible for supervising, evaluating value preservation and increase for state-owned assets. Makes, implements policies to pay managers of state-owned enterprises and divide revenues of state-owned enterprises. Responsible for basic management work, such as defining ownerships of state-owned assets, ownerships registration, assets evaluation supervision, asset and capital verification and asset statistics. Protects interest of investors of state assets. 

8. Responsible for instructing on and supervising the state-owned enterprises’ implementing the work safety laws, regulations, rules and standards of the nation, the province and the city. 

9. Takes on other tasks delegated by the CPC Hangzhou Municipal Committee and the municipal government. 

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