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The Shanghai Cost Research Society (SCRS) joined hands with Shanghai International Group (SIG) to deliver the First Exchange Conference for Financial Heads of Large State-owned Enterprises on the afternoon of August 11. Present were Secretary General Fu Yongyao and other leaders of SCRS; Guan Wei, Vice President and Chief Finance Officer of SIG; as well as financial heads of several large state-owned enterprises in Shanghai, including Shanghai Electric Group, Shanghai Construction Group, Shenergy Group, Shanghai Alliance Investment, Shanghai Tenth People's Hospital and Shanghai Research Institute of Building Sciences Co., Ltd.

SCRS is a general research society based on the professional academic strength of the Antai College of Economics & Management, Shanghai Jiao Tong University. Successively affiliated to the Shanghai Municipal Finance Bureau, the Shanghai Municipal State-owned Assets Supervision and Administration Commission (SHSASAC) and the Shanghai Municipal Office of Property Exchange Management, SCRS is committed to supporting corporate development in a professional and practical way to promote the development of the state-owned assets and enterprise reform in Shanghai.

SCRS noted that now large state-owned enterprises are facing three pressing financial problems: how to develop international risk control thinking, how to advance the digitalization of financial sharing center and management accounting, and how to strengthen communication with tax authorities to address the problem of information asymmetry, which calls for the joint efforts of professional associations including SCRS, as well as regulatory bodies including SHSASAC and tax authorities. The financial heads of Shanghai's large state-owned enterprises present exchanged ideas on the problems in light of their actualities, offering beneficial experience in and constructive opinions on the financial informatization, fund system construction and risk control system establishment of large state-owned enterprises.

Guan noted that the conference provided a platform and academic support for financial heads of large state-owned enterprises in Shanghai to exchange ideas and broaden horizon. As a farsighted and practical move, it is conducive to further improving the capacity of Shanghai's large state-owned enterprises for financial management and cost control.