The Shanghai Regulatory Bureau of the Ministry of Finance is changing how it supervises the state capital returns of central enterprises in its area. It has merged on-site inspections of state capital returns with checks on accounting information quality and internal control management into a 'single visit, integrated supervision, centralized feedback' model, aiming to reduce the burden on enterprises and improve efficiency.
In the supervision process, the bureau applies tiered and classified management, listing enterprises with abnormal reporting data or newly included in the reporting scope as key targets. It intensifies reviews of core aspects such as income accounting, equity transfers, and profit distribution to uncover risks of underreporting, omission, or concealment. Problems found on-site are corrected immediately, and weaknesses in accounting and internal management are addressed.
To enhance digital and smart capabilities, the bureau is building a 'one book, one manual, one database' system: a compilation of rules, an operational manual, and a supervision database. The database collects basic information and operational status of enterprises in the area and maintains a dynamic 'one enterprise, one file' ledger. By conducting vertical data comparisons and cross-industry horizontal analysis, the bureau dynamically tracks abnormal indicators and preempts risks. It plans to integrate state capital returns supervision into the overall digitalization plan, aiming for a shift to 'data-driven' oversight.
The bureau has also implemented a 'one enterprise, one person' precision liaison mechanism, assigning dedicated staff for policy interpretation, business guidance, and daily communication. It has established a closed-loop management system by issuing rectification notices and supervising their implementation until all issues are resolved. Furthermore, it provides guidance on fund management and asset revitalization, helps solve historical problems, and shares supervisory experience through youth forums and case-sharing sessions to build team capacity.
At the institutional level, the bureau formulated special management measures defining the entire workflow of reporting, review, and remittance, along with job responsibilities. It also improved internal control rules to set detailed constraints on material acceptance and tiered review to prevent operational and integrity risks. Additionally, it engages in joint party-building activities with some central enterprises, using platforms like joint party day events and business discussions for policy communication and risk alerts.