Chapter I General Provisions Article 1 is to perform the responsibilities of investors according to law, establish and improve the supervision system of state-owned assets with emphasis on managing capital, promote central enterprises to standardize investment management, optimize the layout and structure of state-owned capital, and better implement the responsibility of maintaining and increasing the value of state-owned capital. According to the Company Law of People's Republic of China (PRC), the State-owned Assets Law of People's Republic of China (PRC), Guiding Opinions on Deepening the Reform of State-owned Enterprises (Zhong Fa [2015] No.22) and Several Opinions on Reforming and Perfecting the Management System of State-owned Assets (Guo Fa [2015] No.63), Article 2 The term "Central Committee" SASAC mentioned in these Measures refers to. The term "investment" as mentioned in these Measures refers to the fixed assets investment and equity investment engaged by central enterprises in China. The major investment projects mentioned in these Measures refer to the investment projects decided by the board of directors according to the articles of association of the central enterprises and the investment management system. The term "main business" as mentioned in these Measures refers to the main business of enterprises determined by the development strategy and planning of central enterprises and confirmed and announced by SASAC; Non-main business refers to other business operations other than main business. Article 3 Under the guidance of the national development strategy and the outline of the five-year development plan of central enterprises, the State-owned Assets Supervision and Administration Commission (SASAC) will focus on grasping the investment direction, optimizing the capital layout, making strict decisions, standardizing the capital operation, improving the capital return and maintaining the capital security, and establish an investment supervision and management system with symmetrical information, equal rights and responsibilities, standardized operation and strong risk control according to law, so as to promote the central enterprises to strengthen the comprehensive supervision of investment behavior. Article 4 The State-owned Assets Supervision and Administration Commission (SASAC) shall guide the central enterprises to establish and improve the investment management system, urge the central enterprises to formulate annual investment plans according to the development strategies and plans, carry out filing management on the annual investment plans of central enterprises, formulate a negative list of investment projects of central enterprises, implement classified supervision on investment projects of central enterprises, and supervise and inspect the implementation of the investment management system of central enterprises. The decision-making and implementation of major investment projects, organize post-evaluation of major investment projects, and investigate the responsibility for serious adverse consequences such as the loss of state-owned assets caused by illegal investment. Article 5 The investment of central enterprises shall serve the national development strategy, reflect the investor's investment will, conform to the enterprise development plan, persist in focusing on the main business, vigorously cultivate and develop strategic emerging industries, strictly control non-main business investment, follow the concept of value creation, strictly abide by the investment decision-making procedures, improve the level of investment return and prevent the loss of state-owned assets. Article 6 Central enterprises are decision makers, executors and responsible subjects of investment projects. Establish investment management system, improve investment management system, optimize investment management information system, make investment plan scientifically, make negative list of investment projects, strengthen project management, improve investment risk prevention and control ability, fulfill investment information reporting obligation and cooperate with supervision and inspection obligation. Chapter II Construction of Investment Supervision System Article 7 A central enterprise shall establish and improve its investment management system in accordance with the provisions of these Measures and in the light of its actual situation. Enterprise investment management system should include the following main contents:
(a) the basic principles that investment should follow;
(2) Investment management process, management department and related responsibilities;
(three) investment decision-making procedures, decision-making institutions and their responsibilities;
(4) Negative list system of investment projects;
(5) Investment information management system;
(6) Control degree of investment risk management;
(seven) the system of completion, suspension, termination or withdrawal of investment projects;
(8) Post-evaluation system of investment projects;
(nine) the system of accountability for illegal investment;
(ten) the authorization, supervision and management system for the investment activities of subordinate enterprises.
The enterprise investment management system shall be submitted to SASAC after being reviewed and approved by the board of directors. Article 8 SASAC and central enterprises shall establish and improve the investment management information system. The State-owned Assets Supervision and Administration Commission (SASAC) establishes an investment management information system for central enterprises to monitor, analyze and manage investment information such as annual investment plans, quarterly and annual investment completion and implementation of major investment projects. Central enterprises establish and improve their own investment management information system, strengthen the management of basic investment information, improve the informatization level of investment management, and comprehensively and dynamically monitor and manage the implementation of annual investment plans and investment projects through the information system. Relevant paper documents and materials submitted by central enterprises to SASAC in accordance with the provisions of these Measures shall also be submitted to the electronic version through the central enterprise investment management information system. Article 9 The State-owned Assets Supervision and Administration Commission (SASAC) shall, in accordance with the relevant state regulations and regulatory requirements, establish and publish a negative list of investment projects of central enterprises, set prohibited and special regulatory investment projects, and implement classified supervision. Central enterprises may not invest in investment projects prohibited by the negative list; For investment projects listed in the negative list of special supervision, the central enterprises shall report to SASAC to perform the investor review procedures; Investment projects outside the negative list are decided by the central enterprises independently according to the enterprise development strategy and planning. The negative list of central enterprises' investment projects remains relatively stable and is dynamically adjusted in due course.
The central enterprises shall, on the basis of the negative list of central enterprises' investment projects issued by SASAC, formulate a stricter and more specific negative list of their investment projects in combination with their actual situation.