The Fourth Plenum of the 15th CPC Central Committee
An important guideline concerning the reform and development of State-owned enterprises (SOEs) was adopted during the Fourth Plenary Session of the 15th Central Committee of the Communist Party of China (CPC).
The plenum, held from September 19 to 22, discussed and approved The Decision of the CPC Central Committee of Major Issues Concerning the Reform and Development of State-Owned Enterprises.
The plenum spoke highly of the important role of SOEs in promoting China's economic and social development and in consolidating the socialist system.
According to the plenum, it is vital to push forward the reform and development of these enterprises.
Given that the reform and development of SOEs are at a crucial juncture, it is timely and necessary for the plenum to concentrate on studying the SOE issue, thus securing an early solution to some deep-rooted contradictions and problems which have long impeded the healthy development of SOEs, according to the plenum.
The plenum mapped out the major targets of SOE reform and development through to the year of 2000 and the guiding principles that must be upheld.
It stressed that to fulfill this historic task and push the State-owned enterprises out of difficulties, it is imperative first to exert utmost efforts to realize the three-year targets set for these firms.
The plenum also decided to appoint Hu Jintao as Vice-Chairman of the Central Military Commission.
Meanwhile, the plenum decided to expel Xu Yunhong, an alternate member of CPC Central Committee, from the body.
The plenum examined and approved a report submitted by the Central Commission for Discipline Inspection Concerning Xu, who was also a standing committee member of the CPC Zhejiang Provincial Committee and secretary of the Ningbo City Party Committee.
The report said that Xu, at the request of his son, helped the business department of a Ningbo trust and investment company obtain permission for independent fund-raising. His son was given money and gifts in return, valued at more than 900,000 yuan.
With Xu's support and connivance, a manager of the company violated management regulations and his acts of embezzlement and bribery failed to be investigated and prosecuted timely, causing property losses worth 1.197 billion yuan.
Xu, again at the request of his son, ordered the Ningbo Daily to buy a building of the Huahong International Center, which was of poor quality. At the request of his wife, he helped a Ningbo firm obtain loans by abusing his power. The firm now is unable to repay its huge amount of loans.
The Central Discipline Inspection Commission ruled that Xu, as a senior Party official, repeatedly abused his power to obtain benefits for his family members, causing big economic losses to the Party and State, had a very bad political influence, and seriously violated the Party discipline.
As some of Xu's behaviors have violated the law, judicial departments will take on his case, the plenum said in a communique.
The plenum, with 189 members and 147 alternate members of the CPC Central Committee attending, was presided over by Premier Zhu Rongji. General Secretary of the CPC Central Committee. Jiang Zemin made an important speech during the plenum.
(NO. 41 OCTOBER 11, 1999)