Recently, the State-owned Assets Supervision and Administration Commission of the State Council (“SASAC”) announced a list of benchmarking enterprises, benchmarking projects, and benchmarking models ("three benchmarks") for the management of key state-owned enterprises. Five benchmarks of China Resources Group (“CR”) were selected. Among them, CR Power, CR Gas, and CR Sanjiu were selected as benchmarking enterprises; its "5C value-based financial management system" was selected as the benchmark project; its "World-class strategic-oriented management model" was selected as the benchmark model.
The creation of "Three Benchmarks" is part of the three-year action plan for the reform of state-owned enterprises and promotion of the benchmarking of the world-class management improvement implemented by SASAC. The plan aims to focus on enterprises, projects or management models with outstanding management capabilities, distinct management features and strong influence, to create a group of management improvement models and pioneers, to copy and promote advanced experiences, and ultimately lead the benchmarking of world-class management improvement actions in an in-depth manner. A total of 200 benchmark enterprises for management improvement, 100 benchmark projects, and 10 benchmark models were selected within the national state-owned asset system after going through a process of application, expert assessment and collection of feedback.
As a state-owned enterprise selected for the "Three Benchmarks", CR attaches great importance to benchmarking world-class management and improvement, and regards the creation of a world-class enterprise and the realization of high-quality development as the fundamental guidance for the implementation of the group's strategy. Looking ahead, the Group will continue to play its role as a management benchmark of "innovation source, display window, training base", and strive to build a "world-class star management improvement index benchmarking system" in order to achieve greater success in benchmarking with world-class management practice.