According to the A company list issued by SASAC during the SOEs’ top management meeting on July 23, COFCO was given an A in performance assessment for the year 2009 and for the period of 2007-2009 which is the second office term of SOEs’ top management. COFCO was also recognized as Well Performing Enterprises. This is the third consecutive year for COFCO being given an A in performance assessment and the first time in office term assessment.
There are 38 companies in the A company list, accounting for 28.79% of the total, 32 in the office term list, and 35 recognized as Well Performing Enterprises.
As Mr. Li Rongrong, head of SASAC, said, SOEs managed to get through and develop in a steady way during the period of 2007-2009 when the domestic economic situation experienced dramatic turmoil. SASAC would better guide SOEs by improving the performance assessment system to make even better performance, improve asset quality and allocate resources in a more rational way so that SOEs could grow more rapidly, more reliable to the country and more competitive on the international market.