State-owned enterprises, as an important part of the market economy, had a better than expected operating income in the first quarter of this year and achieved a "good start", which is inseparable from the continued progress of deepening the reform of state-owned enterprises. The year 2021 is a crucial year in the three-year reform of state-owned enterprises. Many state-owned enterprises have unveiled new reform actions, including mechanism innovation, integration and restructuring, market-oriented operation and other ways. In this process, financial capital plays an important role as a driving force. By strengthening resource integration, asset restructuring and capital operation capacity, it will further stimulate the vitality of SOEs and drive China's strong economic growth.

As a state-owned joint-stock investment bank, International Union Construction Group always takes serving the national top-level strategy as the development concept of the group. Along with the reform of state-owned enterprises into the deep water area, International Union Construction Group subsoil of creditor's rights investment and equity investment business sector, fully rely on professional and resource advantages, actively docking mix to state-owned enterprises, major projects, industry consolidation, debt structure and asset quality optimization and a series of reform of state-owned enterprises derivative financial demand, build a diversified financial services system power reform and innovation in state-owned enterprises, Achieve high-quality development. According to the statistics of the third-party authority, in 2020, the total investment of International Union Construction Group's various business sectors was 159.65 billion yuan, including 96.58 billion yuan of debt investment, involving 165 investment projects.

On the way of promoting the reform of state-owned enterprises to develop in depth, strengthening the asset-liability constraints of state-owned enterprises has become an important measure to prevent and defuse debt risks. In order to effectively solve the debt pressure and funding problems of state-owned enterprises in different degrees, International Union Construction Group takes the debt reduction financing (DRF) asset management plan as the core, formulates personalized financing plans according to the different characteristics of enterprises, and puts them into financing enterprises in the form of creditor's rights. Countries build DRF tube to state-owned enterprise joint factoring, joint tenancy, increase endowment spread, debts into shares, SPV project financing and REITs six kinds of financing, real estate investment trust funds through precise ShiCe help enterprise financing bail-out, promoting state-owned enterprises to form the reasonable structure of assets and liabilities, orderly stock of debt, perfecting capital supplement, In this way, the dual effect of burden reduction and financing is realized, which lays a solid foundation for the realization of high-quality development in the next step.

To stimulate the endogenous driving force of SOEs, we need to actively promote the implementation of the mixed-use reform of SOEs. It has become the only way to deepen the reform of state-owned enterprises to perfect the diversified ownership structure, establish an efficient enterprise market-oriented management mechanism and improve profitability through the mixed ownership reform. In recent years, the International Union Construction Group continuously strengthen enterprise equity financing business docking, deep into the primary market big health industry investment, screening the level half market quality enterprises to participate in the purchase and the placement of all fields, and in the secondary market for securities investment, for the state-owned enterprise listing, issuing, optimal portfolio of assets in the mixed ownership reform provide a comprehensive range of financial support.

During the 14th Five-Year Plan period, state-owned enterprises need to seize the important strategic opportunity period of China's economic development, effectively enhance competitiveness, innovation, control, influence and anti-risk ability, and constantly improve the vitality and efficiency of enterprises, all of which need to be achieved by comprehensively deepening the reform of state-owned enterprises. Over the years, International Union Construction Group has provided high-quality, efficient and customized comprehensive financial services for many state-owned enterprises through the exploration of financing modes and the implementation of solutions, helping enterprises forge development advantages in the new era and start a new journey of SOE reform.