State-owned enterprise reform clarifies the "construction plan" for the next three years

  From 2017 to 2019, the number of companies under the supervision of the national state-owned assets system in the world's top 500 increased from 67 to 80. Total operating income and total profit increased by 17.3% and 20.6% respectively, and the operating income margin increased by 0.4 percentage points to 5.9%. A total of 10.9 trillion yuan in taxes and fees has been paid.

  At the State Council’s regular policy briefing held on October 12, Weng Jieming, deputy director of the SASAC, introduced such a set of data.

"In recent years, a series of significant progress has been achieved in important areas and key links of state-owned enterprise reforms. The achievements of these reforms have strongly promoted the obvious improvement of the quality and efficiency of enterprise development." said Weng Jieming.

  Since the 18th National Congress of the Communist Party of China, the central government has introduced the "1+N" policy system for state-owned enterprise reform, which has built "four beams and eight pillars" for state-owned enterprise reform.

Since this year, another three-year action for reform of state-owned enterprises has been launched.

Weng Jieming introduced that the three-year action for the reform of state-owned enterprises is a "specific construction drawing" for the implementation of the "1+N" policy system in the next three years. There are projects and time points for completion, and they can also be measured and assessed.

  The three-year action of state-owned enterprise reform focuses on eight key tasks, including improving the modern enterprise system with Chinese characteristics; advancing the optimization and structural adjustment of state-owned capital; actively and steadily promoting the reform of mixed ownership; stimulating the vitality of state-owned enterprises; forming a capital-based management system State-owned assets supervision system; promote fair participation of state-owned enterprises in market competition; promote the implementation of a series of state-owned enterprise reform special actions; strengthen the party's leadership of state-owned enterprises.

  In terms of mixed reform, from January to August this year, central SOEs introduced more than 170 billion yuan of social capital through investment, mergers and acquisitions, capital increase and share expansion, a 28% year-on-year increase.

At the same time, the central enterprises have coordinated development with the vast number of private enterprises and small and medium-sized enterprises through the cooperation of the industrial chain and supply chain, and invested in more than 6000 non-public enterprises, with a total investment of more than 400 billion yuan, forming a group of sophisticated "Invisible champion" and leading enterprises in various fields.

  In terms of technological innovation, in 2019, central SOEs invested 819 billion yuan in R&D expenditure, an increase of 17.5% over the previous year.

Peng Huagang, Secretary-General of the State-owned Assets Supervision and Administration Commission of the State Council, said that in the future, the mechanism for adding back the benefits of R&D investment will be further improved, that is, the funds invested in R&D will be added to the benefits in the assessment, further increasing the weight of science and technology indicators, and increasing the addition of science and technology rewards in the assessment. Promote the steady growth of R&D investment intensity of state-owned enterprises.

Strive to achieve an average R&D investment intensity of more than 5% by 2022.

  In terms of structural adjustment, state-owned enterprises will be encouraged to vigorously develop the real economy around their main responsibilities and businesses, so that state-owned capital advances and retreats.

The State-owned Assets Supervision and Administration Commission has made it clear that it is necessary to promote the concentration of state-owned capital in important industries that are related to national security and the lifeline of the national economy, to industries that are related to national economy and people's livelihood, emergency capacity building, and public welfare, and to strategic emerging industries.

Resolutely withdraw from non-competitive non-main business and non-performing assets.

  "It is hoped that through the three-year reform of state-owned enterprises, the competitiveness, innovation, control, influence, and risk resistance of the state-owned economy will be effectively enhanced," said Weng Jieming.

Li Jie