Group News-HBIS Group-Being The Most Competitive Steel Enterprise

One of HBIS Subsidiaries was Listed in the “Double Hundred" Enterprises of SOE Reform by the State-owned Assets Supervision and Administration Commission of the State Council for the Third time  

Recently, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) website released the latest “Double Hundred" Enterprises list, HBIS TangSteel listed, the third time included in the “Double Hundred" Enterprises.  

The "Double Hundred Action" on SOE reform is one of the special actions organized by the Leading Group for SOE reform under The State Council.  The new round of "Double Hundred Action", on the basis of "attracting capital", pays more attention to "transforming mechanism". In accordance with the requirements of deepening reform, HBIS TangSteel has made breakthroughs in the reform of mixed ownership, corporate governance structure, market-oriented operation mechanism, and incentive and management mechanism, has achieved positive results in the comprehensive reform, centering on the core work of the group.  

The configuration of the board of directors of HBIS TangSteel and its wholly-owned and holding subsidiaries has been further improved, and the proportion structure of the majority of external directors has been realized.  Four specialized committees, including the Strategy and Investment Committee, have been set up to make decision-making more scientific and efficient, and the corporate governance structure has been increasingly improved. HBIS TangSteel implemented the tenure system for managers and contractual management, promote the professional manager system, give full play to the role of entrepreneurs, and effectively stimulate the enthusiasm of management team members to start businesses. HBIS TangSteel carried out budget and record management of total payroll, piloted medium - and long-term incentive mechanisms such as excess profit sharing, aroused the enthusiasm of managers and staff, and stimulated the vitality of enterprises.