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| ¡ö COSCO Group has established operation performance evaluation system to supervise strategic implementation |
| COSCO Group is strictly executing the Approach on Measurement of Operating Performance of National Enterprises Heads. With the establishment and perfection of superincumbent operation performance measurement system, heads of COSCO and its subsidiaries sign the Book on Liability of Operating Performance, analyze the assessment target layer by layer, form the mechanism of liability settlement and pressure conduction, and theincentive mechanism of relating operation performance and income allocation. These measures have enhanced the consciousness of profit and capital reward of the arms of COSCO Group, stimulated the enthusiasm of both |
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| company heads and employees, provided mechanism guarantee for the group to deepen reform, strengthen management, and realize sustainable development, and therefore realized safe and healthy operation, value protection and value adding for state-owned assets. |
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| ¡ö COSCO Group establishes personnel evaluation system, and pay salary according to evaluation results |
To further strengthen management for executives, COSCO Group has released the Interim Measures on Management of COSCO Executives. The Measures provides evaluation principles for executives under administration of the group, including:
1. be practical, realistic, objective and fair,
2. integrating assessment & evaluation and adoption & cultivation,
3. integrating comprehensive quality assessment and operation & management performance evaluation,
4. integrating nature evaluation and quantity evaluation.
According to the requirements of modern enterprise system, the group put forward the establishment of the executive evaluation and assessment system integrating comprehensive quality assessment and operation & management performance evaluation, to give evaluation for the operation and management performance of executive, considering the integration of enterprise sustainable development strategy, operation target and executive post liability. At the same time, the group has introduced scientific management technologies such as measurement and appraisal for talent quality and measurement and appraisal for sustainable development indicator. |
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| ¡ö Associations, international and domestic well-known organization participated by COSCO |
COSCO has joined many influential shipping organizations at home and abroad and actively takes part in the activities of such organizations, making its own contributions to maintain and promote the healthy and sustainable development of the international shipping industry. In 2006, COSCO donated USD50,000 to UN to support the implementation of the Global Compact and the sustainable development.COSCO has actively taken part in the establishment of related national and international conventions, laws, regulations, rules and statutes, and took active part in various shipping and related organizations, making important contributions to promoting and leading industry's healthy development, avoiding vicious competition, etc. While parts of corporation's stipulations, cited and used for reference by some national sectors, they have become the industry standards.
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| ¡ö Participation in non-governmental organizations and non-profit organizations, taking part in activities related with Global Compact and sustainable development |
| COSCO Group and its subsidiaries have joined several organizations and institutions related with Global Compact and social responsibilities. In 2006, COSCO joined 102 major associations and organizations, paying fees of up to RMB 3,835,800. |
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