Chairman Li Rongrong Held Talks with
Peter Mandelson, EU Commissioner for Trade

On November 26, 2007, Chairman Li Rongrong met with Peter Mandelson, EU Commissioner for Trade in Beijing.
Chairman Li introduced the main functions and responsibilities of SASAC, the reform and development of the central SOEs and their listings on overseas capital markets. Chairman Li said :”Over the past four years since SASAC’s establishment, our SOEs have undergone significant changes. It has been proven by practice that whether the enterprises can be run well or not has no necessary connection with their ownership. The key is whether they are run according to the laws of enterprises. Effective monitor must be maintained over the management personnel on one hand and the account books on the other.” Mr. Mandelson agreed with Chairman Li’s opinions and introduced the EU’s policies concerning investment by Chinese enterprises in EU. The two sides also exchanged views on the cooperation between Chinese enterprises and EU companies. Chairman Li said that SASAC is in support of such cooperation. He said: “I hope some countries can change their attitudes towards Chinese SOEs, as today’s Chinese SOEs are no longer SOEs in the old sense. It is inappropriate to regard our enterprises as purely state-owned enterprises.” Mr. Mandelson expressed his appreciation of the work done by SASAC.