On July 24, CAS held a symposium on the cases of legal risks in Beijing. The meeting analyzed and exchanged views on typical cases of legal dispute and with potential contractual risks over the years, reaffirmed the duties of counsel (legal affairs representative) and legal review process, shared the initial idea of computerization of contract management and conveyed the meeting spirit of SASAC Legal Work Symposium.
CAS President Li Hai attended the meeting and delivered an important speech titled Draw Lessons and Enhance Risk Awareness to Promote CAS ability of Governance according to Law. Li Hai pointed out that，under the major theme of rule by law, the objective of lawful CAS is not only an inevitable choice of complying with the external environment and implementing the deployment of the CPC Central Committee and SASAC, but also an effective measure to adapt to the reform and development as well as internal business management of CAS. The building of lawful CAS must attach importance to the cultivation of legal thinking and increasing of awareness on legal risks of all employees. The key work should gradually shift from legal affairs management to the prevention of legal risks. Li Hai demanded that executives of all subsidiaries should attach great importance to and have a deep understanding on the prevention of legal risks, which has realistic and long-term significance on enterprise development. All subsidiaries should train and guide the staff on all levels to enhance risk awareness, strengthen risk prevention, and form a good situation of “high attention by the business departments in the frontier, final review by the legal department, jointly strengthen the prevention and control of risks”.
CAS Vice President and General Counsel Yang Xiaoming made a concluding speech themed Pay Attention to Legal Risks and Enhance Legal Risk Management to Escort the Sustainable and Sound Development of CAS, and raised several specific requirements: firstly, all subsidiaries should pay further attention to legal risks, give play to the role of legal review in the prevention of risks, be strict in the signing, implementation, changing and termination of economic contract. All subsidiaries should prevent risk in advance and in case, make it under control. Secondly, all subsidiaries should increase sense of responsibility, deeply understand the important role of business departments in the prevention and control of risks, and improve their awareness of risks, not only in the text of the contract, but also in their execution. Thirdly, all subsidiaries should continue to implement the work responsibility and procedure of counsel (legal affairs representative), ensure 100% review rate on rules and regulations, economic contracts and major decisions, attach importance to the computerization of contract management, and through the perfection and improvement of systems and mechanisms, further improve the prevention and control of legal risks.
Heads of functional departments of CAS headquarters, executives of all subsidiaries, counsels and legal affairs (contract management) representatives as well as employees, nearly 200 people in total, attended the meeting personally or through the video conference. The meeting had unprecedented levels, range and number of participants since the founding of CAS.
Based on the previous study of laws and with innovative way, the meeting showcased cases with potential risks in legal dispute and regular contract review over the years. In this way, it would further promote the staff to abide by and use the law. The meeting had a bigger impact, achieved better result, and exerted a great significance for CAS to build mechanisms for the prevention and control of legal risks.