A recent Study Times article summarizes lessons that state-owned companies should learn from the financial crisis, highlighting the role of state control:
1. The State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) must fulfill its obligations as regulator.
2. SASAC must lead and dominate during the election of the board of directors.
3. SASAC must further research and improve board governance and the evaluation of board members.
4. SASAC should further clarify the criteria used in appointing board members.
5. SASAC should balance between the political core role of the Party and modern corporate governance.
6. SASAC should strengthen the training and quality of board members.
Source: Study Times, November 15, 2020
http://www.studytimes.com.cn:9999/epaper/xxsb/html/2010/11/15/08/08_62.htm