Henan Authorities Launch LYC Rejuvenation Program

Resource from: cbcc-yinx Likes:2947

Mar 13,2007

Henan Authorities Launch LYC Rejuvenation Program State-owned Assets Supervision & Administration Commission (SASAC) of Henan Province held a conference on rejuvenating LYC after their merge with YCEG on Mar. 6. Present at the conference were LYC delegate, YCEG delegate and all related LYC subsidiaries. Yu hai, secretary of Supervision Commission and vice director of SASAC of Henan province, hosted the conference. He pointed out that for the hurry merge between LYC and YCEG, LYC still faced many difficulties in walking out of their troubles. Therefore, the Henan authorities made a decision that further reform in LYC should be expedited, YCEG should take their responsibility in fully restructuring LYC. When it comes to the management reshuffle in LYC, Yu announced the decision made by Henan authorities. According to the decision, Chen guozhen, Jiang guoqiang, Li mengxi, Gao wenfeng, Dong xinguang and Zhang limin will stay in LYC, dealing with problems inherited from the former LYC and maintaining the formal production. Chang baoliang, Li weiguo, Cui qinjian and Huo bin are going to leave LYC and be alloted new posts by relavant departments. As LYC has become wholly-owned subsidiary of YCEG, YCEG are obliged to be responsible for the development of LYC. Thus, the Henan government decided that YCEG should be in charge of confirming members of new management of LYC, name list of the confirmed management should be submitted to SASAC for filing. Then, LYC will be under control of the new management. Yang yanhua, vice secretary of the CPC in YCEG, made a speech at the conference, expressing their determination to follow the instruction.

(cbcc-yinx)

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