CEC Announced the Founding of the Technical Committee on the Corporate Compliance Management Standardization

18 June 2021, Beijing /CEC/ - CEC announced the founding of the Technical Committee on the Corporate Compliance Management Standardization at its inaugural meeting as well as its first working meeting held in Beijing on 18 June 2021. More than 30 committee members from China Electricity Council (CEC), Bureau of Policy and Regulation of Stated-owned Assets Supervision and Administration Commission of State Council (SASAC), Anti-monopoly Bureau of the State Administration for Market Regulation, power companies, industry associations, universities and law firms etc. participated in the meetings. 

Shen Weichun, the Deputy Secretary-General of CEC moderated the inaugural meeting. An Hongguang, the Vice President of CEC, made the Welcome Remark and expressed: “As the first industry organization worked on the corporate compliance management standardization, CEC should follow and carry out the ‘Standardization Law of the People’s Republic of China’ strictly to construct the standardization system of the corporate compliance management and play a major guiding role for the power companies.” Based on the international and the domestic situations, Yi Xuedong, the Deputy Director of SASAC, talked about the nation’s requirements of the corporate compliance management for the state-owned companies in his speech. Qiu Yang, the Director of the Anti-monopoly Bureau of the State Administration for Market Regulation, analyzed the national anti-monopoly policies and regulations in depth. Huang Chenggang, the Director of CEC Technology Development and Promotion Center, reported the annual work plan of the Technical Committee on behalf of its Secretariat. 

Ouyang Changyu, the Chief Legal Advisor of the State Grid Corporation of China (SGCC), served as the first Chairman of the Technical Committee and moderated the working meeting. In the conclusion he summarized that to achieve the overall target of the corporate compliance management standardization is to establish its working framework, to accelerate its industrial application and to establish its brand image. 

During the working meeting, the Technical Committee issued the appointment letters to its members, reviewed and approved the constitution of the Committee and the articles of the secretariat’s working instructions. In the end, the Technical Committee members also had a discussion on the framework of the Committee and its follow-up action plan.