Governance Structure: Reform and Hao Peng

governance structure: It is China's first cooperation model between a state-owned enterprise SOE and a local government, according to Global Times China. The reform is a milestone for deepening SOE reform in the country and is also a role model for cooperation between SOEs and Guangdong Province, said Hao Peng, secretary of the State-owned Assets Supervision and Administration Commission of the State Council SASAC Party Committee and Chairman of SASAC. The reform will help improve the corporate governance structure of the airline company and nurture it into a leading firm in the world, Hao told a signing ceremony in Beijing, noting that it will also play a vital role in advancing integrated regional economic development. Photo Huang Ge/GT China Southern Airlines on Saturday announced the start of its equity diversification reform, bringing state-owned capital worth 30 billion yuan 4.36 billion from South China's Guangdong Province. The Guangdong-based airline said the new investment will be primarily applied to the air transport business, aiming to serve the construction of the China-proposed Belt and Road Initiative BRI and the development of the Guangdong-Hong Kong-Macao Greater Bay Area. As one of China's major airlines, the company said it will strengthen efforts to grasp opportunities during the growth of the Great Bay Area and provide world-class solutions to the local aviation industry. In recent years, the airline has been active in the building of the BRI, opening 172 air routes along 38 countries and regions of the routes, providing more than 15 million trips each year. (news.financializer.com). As reported in the news.