Areas of intervention | Provisions |
Set clear objectives | SOEs are classified into groups according to the level of commercialization. Performance target (ROE-based) are defined for each group. Largest SOEs are obliged (others encouraged) to develop long-term strategies with clear, ambitious objectives. |
Separation of commercial and non-commercial functions | Identification, separation and disclosure of SOEs’ public policy objectives (“special obligations”). Compensation mechanism to cover costs supported for the special obligation. |
Separation of the ownership and regulatory function | Establishment of a separate coordinating authority, the Governance Coordination Center (GCC). Criteria for nomination and composition of corporate boards. |
Increase the transparency | Aggregated reporting and disclosure established by law. SOEs obliged to prepare and publish yearly and quarterly aggregated reports. |