The main content of honest practice

It is stipulated that the second chapter is "Code of Conduct for Honest Practice", and it is clear that the leaders of state-owned enterprises shall not violate the decision-making principles and procedures to decide major decisions, important personnel appointments and dismissals, major project arrangements and large-scale capital operations; Shall not handle enterprise restructuring, merger, reorganization, bankruptcy, asset evaluation, property rights transactions and other matters in violation of regulations; Shall not incite, instigate or force accountants to carry out activities that violate the national financial discipline and enterprise financial system; Without the approval of the institutions and personnel departments that perform the duties of state-owned assets investors, they shall not decide the wages, housing subsidies and other welfare benefits of the leaders at the corresponding level; No donation or sponsorship shall be decided without the collective research of enterprise leaders, or no large donation or sponsorship shall be decided without the approval of the institution that performs the duties of investor of state-owned assets.

The "Regulations" particularly emphasize that leaders of state-owned enterprises shall not use intangible assets or resources such as inside information, trade secrets, intellectual property rights and business channels mastered in the process of listing, mergers and acquisitions, and private placement of listed companies to seek benefits for themselves, their spouses, children and other specific stakeholders.

The regulations stipulate that leaders of state-owned enterprises are not allowed to use public funds or travel with public funds in disguise; During the period of non-policy losses or wage arrears, it is not allowed to buy or replace cars, official chartered flight, decorate offices or purchase high-grade office equipment. The regulations also stipulate that leaders of state-owned enterprises should not take advantage of large-scale weddings, funerals and celebrations to cause adverse effects or take the opportunity to collect money. In 2004, the original Regulations on the Integrity of Leaders of State-owned Enterprises was abolished at the same time.