Source: Securities Times Author: Jiang Wei

The seminar on the reform, deepening and upgrading actions of state-owned enterprises by heads of local state-owned assets commissions held from July 25 to 26 conveyed new information.

The conference emphasized the need to unswervingly strengthen, improve and expand state-owned capital and state-owned enterprises, and actively serve the country's major strategies.

It is necessary to continuously improve the core competitiveness of enterprises, enhance core functions, push state-owned enterprises to place scientific and technological innovation at the core and build new competitive advantages; promote the concentration of state-owned capital in important industries related to national security and the lifeblood of the national economy, focus on important industries related to the national economy and people's livelihood, such as providing public services, emergency capacity building, and public welfare, concentrate on forward-looking strategic emerging industries, stick to main responsibilities, strengthen the main business, and be good “long-term capital”, “patient capital” and “strategic capital.”

It is necessary to give full play to the role of scientific and technological innovation, industrial control, and security support in building a modern industrial system and constructing a new development pattern, strengthen the dominant position of enterprises in scientific and technological innovation, promote the deep integration of industry, education, research and use; actively cultivate “chain long” enterprises to ensure that the industrial chain supply chain is autonomous and controllable; focus on key areas, enhance the resilience of the industrial chain, release the vitality of scientific and technological innovation, and promote state-owned state-owned enterprises to truly become the heavy tools of the times and the cornerstone of a powerful nation.

Highlight actions to reform and deepen the upgrading of state-owned enterprises

Focusing on this year's work, the conference affirmed the positive role of state-owned enterprises in “leading the way” in promoting the improvement of the local economy in the first half of the year. The conference pointed out that in the first half of the year, the quality and efficiency of state-owned enterprise development continued to improve, the reform of state-owned enterprises continued to go deeper and more practical, the layout structure of the state-owned economy continued to be optimized and adjusted, and the state-owned assets supervision system continued to improve.

Regarding the work in the second half of the year, the conference called for better promotion of the high-quality development of state-owned state-owned enterprises and the deployment of seven areas of work, including deepening the reform and upgrading of state-owned enterprises, improving quality and efficiency and steady growth, improving scientific and technological innovation capabilities, and restructuring the layout and structure of the state-owned economy.

The reporter noticed that “focusing on the reform, deepening and upgrading actions of state-owned enterprises” was placed at the top of the list. The meeting called for focusing on the reform and deepening of state-owned enterprise reform and upgrading actions, firmly grasping the correct direction of reform, solidly advancing the key tasks of reform, vigorously optimizing the layout of the state-owned economy, and enhancing the core functions of enterprises.

For some time now, many localities have been speeding up the planning and deployment of state-owned enterprise reform and deepening upgrading actions. For example, recently, the Tibet Autonomous Region State-owned Enterprise Reform Leading Group issued 3 supporting documents on the basis of the “Implementation Plan on Promoting Standardized Operation and High-Quality Development of Autonomous Region State-owned Enterprises” issued by the Tibet Autonomous Region Party Committee Office, the “Autonomous Region Party and Government Organs and Institutions to Promote Centralized and Unified Supervision of Operating State-owned Assets”, “Autonomous Region Finance Department, Autonomous Region Government State-owned Assets Administration Commission Funded Enterprise Financial Capital and Industrial Capital Segregation Supervision Plan” and “Work Plan on Further Rationalizing the Funding Management Relationship of Regional State-owned Enterprises”.

Promote investment of state-owned capital into the real economy and strategic emerging industries with a foundation for development

The conference called for focusing on restructuring the layout of the state-owned economy, highlighting main industries, focusing on industry, adhering to specialized development, promoting investment of state-owned capital into strategic emerging industries with a foundation for development, and speeding up the high-end, intelligent, and green development of traditional industries.

Among them, the statement of “promoting investment of state-owned capital into the real economy and strategic emerging industries with a foundation for development” is consistent with the statement of “promoting the concentration of state-owned capital in important industries related to national security and the lifeblood of the national economy, concentrating on important industries related to the national economy and people's livelihood, such as providing public services, emergency capacity building, and public welfare, and concentrating on forward-looking strategic emerging industries” in the new mission and position of state-owned enterprises.

Strategic emerging industries are one of the main directions for state-owned state-owned enterprises to expand effective investment. In the first half of this year, Hunan, Sichuan and other places continued to increase investment in strategic emerging industries and advantageous and characteristic industries such as new materials, new energy, next-generation information technology, life and health, and high-end equipment.

According to CCTV reports, Zhang Yuzhuo, director of the State Council's State-owned Assets Administration Commission, said that state-owned enterprises should strengthen the dominant position of enterprises in scientific and technological innovation, give more prominence to scientific and technological output, scientific and technological achievements, scientific and technological transformation, and the science and technology industry, implement a new national system for research on key core technologies, promote the deep integration of industry, education, research and use, and strive to become demand proponents, innovation organizers, technology suppliers, and market applicators of original technology. Give better play to the strategic leading and basic guarantee role of the state-owned economy in economic and social development.

Resolutely curb the impulse to do one-sided large-scale work

The conference also called for focusing on preventing and controlling major risks, promoting enterprises to establish a solid concept of high-quality development, resolutely curbing the impulse of one-sided large-scale development, resolutely abandoning far-reaching development paths, strictly controlling risks such as debt, investment, and compliance management, and ensuring realistic business performance that can stand the test.

According to the data, up to now, 19 localities have issued implementation plans for the construction of source sites and introduced targeted supporting policies. Each region selected 260 key enterprises in 44 fields, including high-end equipment and new materials, to carry out strategic source construction.

Judging from the information conveyed at the conference, “stick to the main responsibility, strengthen the main business” and “highlight the main business, focus on industry, and adhere to specialized development” are elements that have been emphasized repeatedly when talking about the layout of state-owned capital and the restructuring of the state-owned economy.

At the seminar for heads of central enterprises held from the 13th to 14th of this month, Zhang Yuzhuo also emphasized that central enterprises should effectively prevent and resolve all types of business risks, continue to give priority to debt risk prevention and control, strengthen control over risk-prone areas such as government and social capital cooperation (PPP), financial derivatives, etc., and resolutely maintain the bottom line of operation in accordance with the law.

The State Assets Administration Commission is intensively investigating the needs of state-owned enterprises

Public information shows that the State Assets Administration Commission is intensively investigating the needs of state-owned enterprises, listening to the opinions and suggestions of enterprises, coordinating solutions to difficult problems faced by enterprises, and focusing on promoting the steady growth of state-owned enterprises through reform, innovation and steady growth.

The reporter learned from the State Assets Administration Commission that on July 25, the State Assets Administration Commission held the third round table on the economic operation of state-owned enterprises. This is the third time in the month since the State Assets Administration Commission announced the establishment of a communication mechanism for a round table on the economic operation of state-owned enterprises in early July. The industry sectors already covered include energy, iron and steel, transportation, chemicals, building materials, equipment manufacturing, etc.

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