State-owned enterprise reform ushered in a critical period of three-year action plan to accelerate the gestation

| gov.cn

Beijing, 18 Nov (Xinhua) topic: state-owned enterprise reform ushered in a critical period of three-year action plan to accelerate the gestation

Xinhua News Agency reporter Wang Xi

The reform of state-owned enterprises plays an important role in traction and has a bearing on the future of China's economy.

"the next three years are the key historical stage", "adhere to the direction of market-oriented reform of state-owned enterprises unswervingly", "put forward clear tasks and measures, and formulate specific indicators that can be quantified and assessed.". According to the Chinese government website, the third meeting of the State Council leading Group on State Enterprise Reform held a few days ago made clear arrangements for the next step in the reform of state-owned enterprises.

"the judgment that the next three years will be a key historical stage is very important." Li Jin, chief researcher of the China Enterprise Research Institute, said: at present, the international situation is grim and complex, the uncertain factors of instability are increasing, the domestic economy is in the stage of climbing over the ridge, and state-owned enterprises should give full play to their role as "beams and pillars." Reform must be continuously pushed in depth and at the forefront of high-quality development.

It is understood that the State-owned assets Supervision and Administration Commission of the State Council is now working hard to study and formulate a three-year action plan for the reform of state-owned enterprises, and clearly put forward new goals, timetables, and road maps for the reform of

The plan of action will promote the reform of mixed ownership, strengthen the supervision of state-owned enterprises, enhance the ability of R & D and innovation, strengthen financial constraints, reduce and standardize subsidies, and improve incentive mechanisms. Key areas and key links such as improving labor productivity and the rate of return on capital, Put forward clear tasks and measures, and put forward quantifiable, assessable specific indicators.

"the progress of reform in these specific areas is closely related to strengthening the foundation for the high-quality development of enterprises." Industry experts believe that although the reform in these areas has achieved a lot of results in recent years, there are still some problems in some places and enterprises, such as lack of reform ability and weak will.

For example, as an important breakthrough in the reform of state-owned enterprises, the reform of mixed ownership of state-owned enterprises has accelerated in recent years-by the end of 2018, the central enterprises had implemented more than 3700 mixed reforms, bringing in more than 1 trillion yuan in non-public capital. The number of enterprises with mixed ownership accounted for more than 70 percent, an increase of nearly 20 percentage points over the end of 2012. 65% of the total assets of central enterprises have entered the listed companies, 61% of the operating income and 88% of the total profits come from the listed companies.

At the same time of "mixed capital", the "reform mechanism" is also constantly exploring. Many enterprises have formed a number of experiences that can be popularized and replicated in corporate governance, the implementation of the functions and powers of the board of directors, the reform of the three systems, the incentive and restraint mechanism and the party building of mixed ownership enterprises.

However, it is worth noting that there are still some problems, such as "mixing for mixing", "mixing for the sake of mixing", "attaching importance to mixing and neglecting to change", and so on. Some enterprises do not have a clear understanding of the purpose and significance of mixed reform, the goal and path of mixed reform are not clear, lack of top-level design and strategic considerations, and some enterprises are worried about the risk of loss of state-owned assets in the process of "mixing".

Industry insiders expect that the future three-year action plan for the reform of state-owned enterprises will provide clearer guidance in standardizing the process of mixed reform and strengthening "mixing" to promote "reform."

Li Jin said: at present, the major policy for the reform of state-owned enterprises has been laid down, and the key is to pay close attention to implementation. The brewing action plan is expected to firmly grasp the reform objectives, further focus on clarifying the responsibility chain, tightening the responsibility screws, and improving the efficiency of reform, and lead to more substantive results in relevant areas of reform.

State-owned enterprise reform ushered in a critical period of three-year action plan to accelerate the gestation

| gov.cn

Beijing, 18 Nov (Xinhua) topic: state-owned enterprise reform ushered in a critical period of three-year action plan to accelerate the gestation

Xinhua News Agency reporter Wang Xi

The reform of state-owned enterprises plays an important role in traction and has a bearing on the future of China's economy.

"the next three years are the key historical stage", "adhere to the direction of market-oriented reform of state-owned enterprises unswervingly", "put forward clear tasks and measures, and formulate specific indicators that can be quantified and assessed.". According to the Chinese government website, the third meeting of the State Council leading Group on State Enterprise Reform held a few days ago made clear arrangements for the next step in the reform of state-owned enterprises.

"the judgment that the next three years will be a key historical stage is very important." Li Jin, chief researcher of the China Enterprise Research Institute, said: at present, the international situation is grim and complex, the uncertain factors of instability are increasing, the domestic economy is in the stage of climbing over the ridge, and state-owned enterprises should give full play to their role as "beams and pillars." Reform must be continuously pushed in depth and at the forefront of high-quality development.

It is understood that the State-owned assets Supervision and Administration Commission of the State Council is now working hard to study and formulate a three-year action plan for the reform of state-owned enterprises, and clearly put forward new goals, timetables, and road maps for the reform of

The plan of action will promote the reform of mixed ownership, strengthen the supervision of state-owned enterprises, enhance the ability of R & D and innovation, strengthen financial constraints, reduce and standardize subsidies, and improve incentive mechanisms. Key areas and key links such as improving labor productivity and the rate of return on capital, Put forward clear tasks and measures, and put forward quantifiable, assessable specific indicators.

"the progress of reform in these specific areas is closely related to strengthening the foundation for the high-quality development of enterprises." Industry experts believe that although the reform in these areas has achieved a lot of results in recent years, there are still some problems in some places and enterprises, such as lack of reform ability and weak will.

For example, as an important breakthrough in the reform of state-owned enterprises, the reform of mixed ownership of state-owned enterprises has accelerated in recent years-by the end of 2018, the central enterprises had implemented more than 3700 mixed reforms, bringing in more than 1 trillion yuan in non-public capital. The number of enterprises with mixed ownership accounted for more than 70 percent, an increase of nearly 20 percentage points over the end of 2012. 65% of the total assets of central enterprises have entered the listed companies, 61% of the operating income and 88% of the total profits come from the listed companies.

At the same time of "mixed capital", the "reform mechanism" is also constantly exploring. Many enterprises have formed a number of experiences that can be popularized and replicated in corporate governance, the implementation of the functions and powers of the board of directors, the reform of the three systems, the incentive and restraint mechanism and the party building of mixed ownership enterprises.

However, it is worth noting that there are still some problems, such as "mixing for mixing", "mixing for the sake of mixing", "attaching importance to mixing and neglecting to change", and so on. Some enterprises do not have a clear understanding of the purpose and significance of mixed reform, the goal and path of mixed reform are not clear, lack of top-level design and strategic considerations, and some enterprises are worried about the risk of loss of state-owned assets in the process of "mixing".

Industry insiders expect that the future three-year action plan for the reform of state-owned enterprises will provide clearer guidance in standardizing the process of mixed reform and strengthening "mixing" to promote "reform."

Li Jin said: at present, the major policy for the reform of state-owned enterprises has been laid down, and the key is to pay close attention to implementation. The brewing action plan is expected to firmly grasp the reform objectives, further focus on clarifying the responsibility chain, tightening the responsibility screws, and improving the efficiency of reform, and lead to more substantive results in relevant areas of reform.







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