State Grid Corporation holds annual financial budget meeting

Li Yuge pointed out that in the past year, the cadres and employees of the financial front have conscientiously implemented the decision-making and deployment of the company's party group, actively responded to the complex and unfavorable factors in the external environment, and effectively strengthened the operation and management, effectively advancing the work of the financial intensification system. As of October 15, the average progress of the company's financial intensification system reached 83.6%, of which 86.5% of provincial companies, 76.9% of industrial units, and 81.7% of financial institutions. The goal of basically completing the financial intensive management system by the end of the year is expected to be achieved. The meeting pointed out that since the beginning of this year, the company’s financial work has achieved breakthroughs in eight areas: the “six-unification” financial policy standard system has been gradually established; a fully centralized, unified management and control of the fund management system has basically been completed; the lean management of assets and capital operation have achieved new Effectiveness; accounting centralized accounting and "one-click" report preliminary realization; strive for a new breakthrough in electricity price fiscal tax policy; financial information construction has achieved fruitful results, basically completed the integration of financial and business applications; the whole process of operation and management to further strengthen; Strictly manage the level of enterprises to further improve.

The meeting summarized the achievements of the company's financial work during the "Eleventh Five-Year" period. During the “Eleventh Five-Year Plan” period, the company’s economic strength and operating performance achieved a leap-forward improvement. The financial management system and mechanism entered a new era of intensification. The level of grouping and intensive operation was significantly improved, the company’s development capacity was significantly enhanced, and financial management was modernized. The standardization of operations has improved significantly.

Li Yuge pointed out that the "12th Five-Year Plan" is a critical period for the development of the company and the financial work is facing new and severe challenges. The meeting put forward the general idea of ​​financial work for the next year and for a period of time in the future. It is to adhere to the scientific concept of development to lead the overall situation, conscientiously implement the requirements of the company's "two transformations" and "three sets and five majors," and insist on the application of financial intensive intensification as the main line. Seize the two key points of financial informationization and standardization, fully implement the “six-unified, five-centralized” measures, accelerate the process of financial management intensification, informatization, standardization, and leanization, and strive to improve the financial protection of the company’s scientific development. Ability, ability to guide value creation, ability to regulate and control resource allocation, ability to support management decisions, and ability to prevent and control operational risks. Further promote the transformation of financial management functions to decision support and value management, and strengthen the foundation of financial management. Enhance the depth, breadth, and accuracy of financial management and control, promote a high degree of financial and business synergy, and promote the overall financial management of the company to reach the level of internationally advanced companies.

2011 is the first year of the "Twelfth Five-Year Plan", and it is also the "deepening application year" of financial intensive management. In the next year, we must focus on eight areas: First, improve and perfect the "six-unification" financial policy standards system, and consolidate the foundation of financial intensive management; Second, further strengthen the construction and application of financial information, and accelerate the modernization of financial management; It is to deepen accounting centralized accounting and “one-click” reporting functions, and greatly increase the level of practicality and intelligence. Fourth is to improve the budget management and control mechanism and strengthen the ability to intensively regulate and control the budget; Fifth, to strengthen the study of policy theory and achieve a new breakthrough in the management of electricity price and taxation. The sixth is to deepen the lean management of the entire life cycle of assets, promote the optimization and integration of power grid industrial clusters, and coordinate development; seventh is to strengthen comprehensive risk management and raise the level of financial management according to law; eighth is to strengthen the construction of accounting teams and continuously improve the quality of the team.

Yang Jiankui, deputy director of the Supervisory Board of the State Council assigned to the State Grid Corporation of China, attended the meeting and delivered a speech. Li Ronghua, Director of Corporate Finance Department, summed up the meeting. The financial leaders, the chief accountant, and the person in charge of the financial department of each unit of the company's system participated in the meeting. The conference also commended the company for its excellent financial performance in 2010 and the company’s annual financial work advanced unit.