On February 23, sasAC news showed that on February 22, the SasAC Party Committee held a special meeting to summarize the three-year action progress of 2021 soE reform, and to study and deploy key tasks for this year.

The meeting stressed that 2022 will be the year of decisive action for the three-year soE reform. We need to focus on key areas, focus on difficult areas, and strive for real results. We need to pursue systematic integration, coordination, and efficiency, ensure that all the actions we have taken in the past three years are met, and work to deepen and deliver solid results in soE reform in the past three years.

Our top priority is to accelerate the improvement of the modern enterprise system with Chinese characteristics and deepen the reform of market-oriented mechanisms. The meeting proposed to promote the unity of strengthening the party's leadership and improving corporate governance, comprehensively strengthen the board of directors of enterprises, and promote the effective operation of the board of directors. We will ensure that the tenure system and contractual management of soE subsidiaries provide high-quality and comprehensive management, and ensure that enterprises at all levels have access to the promotion and demotion of their managers, the employment and retirement of their employees, and the increase and decrease of their incomes, so as to stimulate the vitality of enterprises.

The continuous adjustment and optimization of the industrial and spatial distribution of state-owned capital is also one of the key points of reform. The STATE-OWNED Assets Supervision and Administration Commission (SASAC) has made it clear that in 2022, we will focus on primary responsibilities and businesses, speed up the removal of inefficient and ineffective assets, reduce the level of corporate management, promote "slimness and fitness", vigorously develop strategic emerging industries such as the digital economy, life and health, and new materials, ensure the supply of primary products, and continuously improve the efficiency and overall function of state capital allocation.

Strategic reorganization, professional integration is an important starting point. Peng Huagang, Secretary-General of the State-owned Assets Supervision and Administration Commission (SASAC), said at a press conference of the STATE Information Office on January 19 that the reorganization and integration of steel and other sectors will be steadily promoted this year, and the formation of new central enterprise groups in relevant fields will be explored at an appropriate time. Actively promote the professional integration of grain reserve processing, ports and terminals, and effectively improve the efficiency of resource allocation and the core competitiveness of enterprises.

On January 25, the signing ceremony of the stock rights Cooperation agreement between China Grain Storage Group and CoFCO was held in Beijing. In accordance with the requirements of the CPC Central Committee and The State Council, the State-owned Assets Supervision and Administration Commission (SASAC) instructed the two groups to establish a joint venture of grain storage business controlled by China Grain Storage Group and a joint venture of oil and oil processing controlled by CoFCO through equity cooperation according to the different functions of public welfare and commercial enterprises.

Weng Jiaming, member of the SasAC Party Committee and deputy director, pointed out that the equity cooperation is of great overall significance for deepening the classified reform of state-owned enterprises and promoting professional integration, which is conducive to promoting the concentration of resources to competitive enterprises and main enterprises. We need to adopt policies tailored to the needs of enterprises, clearly define their strategic plans and development models, and set a model for category-based reform. We should give full play to our respective strengths, coordinate resources of both sides, continue to strengthen professional integration, effectively improve the efficiency of resource allocation and enterprises' ability to resist risks, and provide reliable support for the stability of the grain and oil industry chain and supply chain.

In addition, the meeting also said that scientific and technological innovation should be guided by the country's strategic needs, focus on key technologies, generic technologies and cutting-edge technologies in the industry, speed up the development of original technologies as "sources", play a good role in promoting industrial circulation, and provide important support for achieving self-reliance and self-improvement in high-level science and technology. We will strengthen risk prevention in key areas, defuse risks in investment, debt, financial services, and overseas operations in a timely and effective manner, and ensure that no major risks occur.

Source: State-owned Assets And Administration Commission of The State Council