State Grid Chengwu County Power Supply Company: Strengthening Compliance Control to Promote the Construction of a Law-Based Enterprise

HEZE, China, Aug. 7, 2024 /PRNewswire/ — Since the beginning of this year, the State Grid Chengwu County Power Supply Company has diligently studied and implemented the legal governance concepts. The company has actively engaged in the initiative to deepen and enhance the reform of state-owned enterprises, establishing a comprehensive and efficient “big compliance” management system to provide robust legal support for stable operations.

In advancing the reform of state-owned enterprises, the company has firmly embraced the integration of business operations with legal principles. It has developed a compliance management organizational structure centered around establishing a strong legal team, strictly implementing procedures, constructing a full-cycle compliance control mechanism, and forming a stringent supervision system. Responsibilities and collaborative duties for compliance management have been clearly defined for the responsible departments and the leading compliance departments. The company actively identifies legal and regulatory issues, rigorously enforces accountability, and has constructed a “three-line defense” pattern for compliance management.

Additionally, focusing on the principles of “respecting, learning, adhering to, and applying the law,” the company has enhanced compliance training. It brings legal education, compliance training, and legal advocacy directly to all levels of staff, implementing initiatives like integrating compliance into party branches and having secretaries discuss compliance to foster a culture of proactive compliance. Through methods like team “lecture halls” and business training, the company regularly conducts case discussions, compliance reviews, and case analyses. It carries out extensive dissemination of policies and procedures, using examinations to promote learning and enhance the conscientious implementation of systems by all employees.

Furthermore, the company has established a “big supervision” system, where departments such as legal compliance, internal control, risk control, and inspections work in coordinated synergy. It strengthens integrated operations before, during, and after events, routinely conducts risk and hidden danger inspections and management, and pushes for proactive problem-solving. The company ensures timely correction of issues, preemptive problem-solving, and comprehensive risk notifications, supervision, and rectification implementation, thereby enhancing the risk and compliance awareness among all employees.

Looking ahead, the company plans to establish and enforce an accountability system that is seamlessly integrated with performance evaluations, staff incentives, and penalties. It aims to excel in the “latter half” of compliance management, using cases to drive governance and governance to enhance efficiency, thereby advancing the construction of a law-based corporate entity.

Source : State Grid Chengwu County Power Supply Company: Strengthening Compliance Control to Promote the Construction of a Law-Based Enterprise

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