Vice President & CFO Li Shiyu of MCC paid an inspection visit to China Second Metallurgical Construction Group (CSMCC Group) and conducted discussion with the heads of CSMCC Group on October 17, 2014. Vice Director Yu Wei of Defaults Clear-up Office of MCC Group accompanied Li during the inspection.
At the meeting, Li Shiyu was debriefed on the execution of the recent key tasks and the implementation of financial budget of 2014. Afterwards Li placed high premium on the outstanding performance in responsibility designation and settlement. He especially spoke highly and proposed to popularization of the responsibility system of CSMCC Group, according to which the leader team members shall be punished in case of failures but not rewarded in case of achievements, while the subunit shall keep strictly the rules for reward and punishment. Li emphasized that, keen attention shall be paid to the operational budget indicators and especially the defaults clear-up work, and the relevant responsibility shall be designated to the specific employee. He requested CSMCC Group to conducted research on capital operation, and make appropriate utilization of the project capital by means of the bank factoring and various funds .In addition, Li Shiyu put forward requirements on the other aspects, for instance, the development of logistics park project, promotion of diversified ownership in steel structure sector, and promotion of responsibility cost management system in project implementation.