Three Central Enterprises Pay And Welfare Management Violations Involving Nearly 5 Billion Of Funds

The Audit Office released the audit results announcement 20 days ago, announces the audit results of the financial revenue and expenditure of 17 central enterprises such as China Three Gorges Corporation. The audit results showed that many central enterprises caused losses due to poor management of projects such as foreign investment, as well as employee salary management problems. Among them, China National Nuclear Corporation, China Ocean (601919, stock bar) transport (Group) Corporation, China Souther Grid Corp three central enterprises pay Welfare management The problem is outstanding, involving nearly 5 billion yuan of funds.

The director of the enterprise division of the Audit Commission said that this year's enterprise audit will focus on the "12th Five-Year plan", the key industries revitalization and adjustment plan, the development of strategic emerging industries, and the implementation of the strategic adjustment of the state-owned economic structure. Policy measures Six aspects, such as implementation, income distribution, anti-corruption and other hot topics of social concern.

The audit results released by the Audit Commission include: China Three Gorges Corporation, China Datang Group, China Construction (601668, stock bar) Engineering Corporation, China National Offshore Oil Corporation, China Sinochem Group Corp, China Ocean Shipping (Group) Corporation, China Souther Grid Corp and other 13 central enterprises, 2009 annual audit results of financial revenue and expenditure, China Aluminum (601600, stock bar) company's financial revenue and expenditure audit results in 2008, part of the COFCO group, China Steel Group subordinate Sinosteel International Holding Co and Dongyue Investment Co., Ltd., China Merchants Property Real estate from 2007 to 2009 audit results of financial revenue and expenditure.

In 2010, the Audit Commission organized an audit of the financial revenues and expenditures of the above-mentioned enterprises and their subordinate units, accounting for more than 60% of the total assets of the enterprises.

Pay and welfare management violations highlighted

The audit results show that 7 central enterprises have problems in the management of employees' salaries, which involve many kinds of problems such as illegal bonus payments, subsidies and travel expenses.

According to the announcement of the audit results, the China Securities Journal reporter has issued a question salary and welfare package of over 150 million yuan issued by the China National Nuclear Corporation. The compensation management violation of China Ocean Shipping (Group) company involves more than 910 million yuan. China Souther Grid Corp compensation Management violation The capital involved amounted to 3 billion 892 million yuan.

Audit results show that China South Industries Group Corporation, China Communications Construction Group Co., Ltd., China Sinosteel Group subsidiary Sinosteel International Holding Co and Dongyue Investment Limited, China Merchants real estate Cmi Holdings Ltd and other enterprises have employees' remuneration benefits.

Foreign investment losses

According to the audit results, many central enterprises have problems such as foreign investment, bidding management and so on, resulting in huge losses. For example, from 2006 to 2009, the China Three Gorges Corporation invested 1 billion 68 million yuan in building two pumped storage power stations under the feasibility study. The two project is in a state of stagnation and is facing risk of loss. In terms of foreign equity investment, China Three Gorges Corporation has problems such as inadequate management system, rapid expansion of non main industry investment, and poor external equity investment.

China Construction Engineering Corporation (Off Shore Company) has set up several Off Shore Company because of its management level. It is not enough to control joint venture enterprises and some overseas projects.

By the end of 2009, 2 projects in 6 overseas oil and gas fields invested by China Sinochem General Corporation were profitable but failed to reach the expected target of feasibility study. The cumulative net cash flow was less than US $133 million, while 3 projects accumulated a total loss of 15 million 266 thousand and 200 US dollars.

Focusing on six elements

This year's enterprise audit will focus on six contents. First, we should pay attention to the implementation of the national macro policy measures such as the "12th Five-Year plan", the revitalization and adjustment of key industries, the development of strategic emerging industries, the implementation of the strategic adjustment of the state-owned economic structure and so on. Two, we should pay attention to the transformation of the development mode of enterprises such as enhancing independent innovation capability, implementing energy saving and emission reduction and international operation, and enhancing the core competitiveness. Three, we should pay attention to deepening the reform of enterprises, improving the modern enterprise system, and strengthening internal management. Four, we should pay attention to the major problems affecting the scientific development of enterprises in terms of potential risks and outstanding contradictions in the production and operation of enterprises. Five, we should pay attention to the institutional and institutional problems of major violations of laws, economic crimes and restricting the scientific development of enterprises. Six is concerned about the issue of income distribution, anti-corruption and honesty. The director of Audit Department of the enterprise division said.