To fulfill the shareholder's rights and responsibilities for three financial institutions, SIG held the 2023 expert review meeting on the budget drafts of Shanghai Pudong Development Bank (SPDB), Guotai Junan Securities Co., Ltd. (Guotai Junan) and Shanghai Rural Commercial Bank (SRCB). Present were Guan Wei, Vice President and Chief Financial Officer of SIG, presided over the meeting. Ye Jinsong, Deputy Director of the Shanghai Municipal State-owned Assets Supervision and Administration Commission (SHSASAC); Yu Liping, an outside director of SIG; Zhong Maojun, Board Director and Chief Operation Officer of SIG; as well as three budget review experts from renowned universities and accounting firms.

    This year, SIG further improved the work concerning budget audits, stayed focus on the measures for the high-quality development of financial institutions, offered more valuable audit opinions and suggestions based on the three financial institutions' medium & long-term plans, and encouraged financial institutions to serve the real economy, align themselves with world top enterprises, and improve development quality and effects.

    At the meeting, the institutions introduced their budget implementation in 2023. The review experts offered audit opinions on the budget drafts based on their judgments on the political and economic situation, as well as the institutions' strategic plans, noting that the institutions should prepare budgets with strategic plans as orientation and with the aim of enhancing core competitiveness, and offering advice on key business and financial indicators, digital transformation and other issues. SHSASAC stressed that the institutions should, based on the requirements of stabilizing growth and promoting development, as well as the development requirements of the "Fourteenth Five-Year" Plan, constantly enhance corporate value and make positive contributions to the development of Shanghai. SIG noted that the institutions should align themselves with the industry in terms of budget preparation, make steady progress, improve development quality and efficiency, and strengthen risk prevention, so as to promote the reform of state capital and state-owned enterprises, as well as the overall development of Shanghai.

    The year 2023 marks the opening year for the implementation of the spirit of the 20th CPC National Congress and a critical year for the full implementation of the "Fourteenth Five-Year" Plan. Under the strong leadership of the CPC Shanghai Municipal Committee and the Shanghai Municipal People's Government, under the care and guidance of the CPC Committee and Discipline Inspection Commission of SHSASAC, SIG will continue to fulfill the shareholder's rights and responsibilities for the three financial institutions, and support them in growing bigger and stronger, aligning themselves with world top enterprises, and improving development quality and effects, to contribute to the economic and social development of Shanghai.

    Relevant staff of departments and offices of SHSASAC, relevant staff of the Department of Financial Management and the Department of Capital Operation of SIG, as well as heads of SPDB, Guotai Junan and SRCB attended the meeting.