On the afternoon of July 12th, SDE’s Treasury Management System (Phase I) officially went online, marking SDE the first provincial SOE to implement online visualized management of financial resources.
Li Wei, Secretary of the CPC Shandong Energy Committee and Chairman of SDE, announced the launch of the system and delivered a speech. He emphasized that SDE took the lead in initiating the treasury system construction and realized online operation after three months of efforts. The system enabled visualized financial management of accounts, bills, financing, and supply chain finance and etc. The Phase I was adopted by 856 domestic units of SDE and can be accessed via "Mobile Treasury" and "PC Treasury", which directly linked to 57 banks and 4,228 bank accounts. This marked the initial accomplishment of the treasury system construction.
Li Wei stressed the a first-class enterprise must have a top-notch financial management system supported by high-caliber fund management capabilities. Building a transparent and secure treasury system is crucial to achieve complete visibility of all subsidiaries’ bank accounts, traceability of fund flows, and full control over aggregated fund. The ultimate goal is to make all financial resources "visible, manageable, usable, and well-utilized”.
He emphasized the need to strengthen risk warning indicators for financial funds, standardize internal fund management procedures, and fully leverage the treasury management system. This would allow for real-time monitoring and comprehensive supervision of funds, ensuring early finding, warning, handling of financial risks to prevent loss, thereby enhancing the ability to guard against potential financial risks.
Furthermore, Li Wei highlighted the importance of unifying the entry for fund-related operations, restructuring fund management types, merging and optimizing existing fund management procedures, and breaking down the previous barriers standing between different financial systems. By establishing a centralized platform for financial fund data, it would enable whole-process tracking and monitoring of fund flows, match business contract flows with financial information flows, and realize streamlined, intensive, intelligent, and integrated financial management.
Li Wei stressed that the construction of the Treasury system should be strictly in accordance with the regulatory requirements of state-owned assets, persevere in implementing it consistently. With the guidance of the construction of a first-class financial management system and the goal of supporting the strategic objectives and management needs of the Company, we should strive to conduct concept, process, system and control reform, adhere to the fundamental construction of capital security, focus on capital concentration and information concentration, improve the system concept of Treasury construction, the operational strategy of capital management, the radiating capacity of capital integration, as well as the development efficiency of the major industries. We should accelerate the Phase II construction of the Treasury system, and build it into a world-class one with SDE characteristics, so as to provide high-quality financial services for the high-quality development of SDE.
Rugang, deputy general manager and chief auditor of SDE, presided over the meeting, requiring to define the schedule of the Treasury project, make up for the shortcomings of the fund management process, optimize and improve the functional modules of the Treasury system, further strengthen the prevention and control of capital risks, and intensify the supporting role of construction of the Treasury system in decision-making on enterprise strategy.
At the meeting, Yang Zaichang, Chief financial officer of SDE, introduced the main functions of phase Ⅰ and the Phase II planning of the Treasury management system. Lin Guoqiang, chairman of Pulian Software Company, and Xin Liang, Secretary of the Party committee and President of Jinan Branch of China Merchants Bank, delivered speeches respectively.
The meeting was held via video. The relevant Principals of financial institutions, such as China Development Bank, The Import-Export Bank of China, Agricultural Development Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Construction Bank of China, Postal Savings Bank of China, Bank of Communications, Industrial Bank and so forth, and Xu Xichao, secretary of the board and director of security office of SDE attended the meeting.
