On June 17, the Publicity Department of the CPC Central Committee held the ninth "China this Decade" series of theme press conference. Weng Jiaming, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, introduced that since the 18th CPC National Congress, state-owned enterprises have undergone fundamental, turning and overall major changes. This decade saw the maturity and finalization of the modern enterprise system with Chinese characteristics, the most comprehensive development of soes, the most significant increase in their vitality and efficiency, and the most significant improvement in their distribution and structure.

"Top beam ballast" for national economic development

Data showed that by the end of 2021, the total assets of state-owned assets supervised enterprises reached 259.3 trillion yuan, up 2.6 times from the end of 2012, with an average annual growth of 15.4 percent. From 2012 to 2021, the added value of state-owned assets supervised enterprises reached 111.4 trillion yuan, with an average annual growth rate of 9 percent, 2.3 percentage points higher than the average annual growth rate of GDP. Over the past decade, central government enterprises have paid 18.2 trillion yuan in taxes and fees, 1.3 trillion yuan in state capital gains, and 1.2 trillion yuan in state capital transferred to social security funds.

Weng Jieming introduced that in the past decade, the achievements of the reform and development of state-owned enterprises have made important contributions to the historic achievements and changes of the cause of the Party and the country in the new era, which are embodied in the following aspects. First, the Party's overall leadership over soes has been fundamentally strengthened, and high-quality Party building has effectively guided and guaranteed the high-quality development of soes. Second, substantial progress was made in the high-quality development of State-Owned enterprises and notable results were achieved in building world-class enterprises. 3) Major breakthroughs were made in the reform of state-owned enterprises, and their vitality and efficiency increased. Fourth, the state assets supervision and control system has become more mature and fixed, effectively safeguarding the safety of state assets and preventing their loss. Fifth, the strategic supporting role of the state-owned economy was fully brought into play, and the political nature of the Party for the people was fully demonstrated.

At the same time, central government enterprises exceeded the energy conservation and emission reduction targets set during the 13th Five-Year Plan period ahead of schedule. In 2021, the comprehensive energy consumption per 10,000 yuan of output value decreased by about 33% compared with 2012. It has more than 8,000 overseas institutions and projects with total assets of nearly 8 trillion yuan. Since the 18th CPC National Congress, central enterprises have signed 3,849 cooperation projects between central and local governments, and participated in over 900 projects in the Xiongan New Area. Over the past decade, central enterprises have built more than 700 state-level R&D platforms and seven innovation consortions, with a total r&d investment of 6.2 trillion yuan, growing at an average annual rate of over 10%.

"Soes play an important role in promoting high-quality economic development, ensuring the implementation of major party and state strategies, promoting self-reliance and self-improvement through high-level science and technology, and better meeting people's aspirations for a better life." Weng Jieming said.

The three-year campaign to reform state-owned enterprises has yielded fruitful results

Since the eighteenth congress, reform of state-owned enterprises, especially state-owned enterprises reform action of the three years to implement, powerful cracked a batch of institutional obstacles, to effectively solve a batch of want to solve problems that not for a long time, in many important areas and key links to realize systemic reshape, integrity of reconstruction, emerge a batch of gushing vitality, power is more abundant modern new state-owned enterprises.

Weng Jieming believes that the three years of soE reform has achieved three obvious results: the formation of a more mature and stereotypical modern enterprise system with Chinese characteristics and state-owned assets supervision system has achieved obvious results; Notable results were achieved in improving the distribution and restructuring of the state-owned economy. Significant progress was made in improving the vitality and efficiency of soes.

Up to now, the reform of the central government's corporate system has been completed, which further clarifies the legal and institutional responsibilities of the government and enterprises, and fundamentally establishes the independent market subject status of enterprises. The state-owned assets supervision system is becoming more mature and perfect, integrating the three responsibilities of fully performing the responsibilities of state-owned enterprise investors, exclusively overseeing state-owned assets supervision, and responsible for the party building of state-owned enterprises, thus forming a national framework of state-owned assets supervision.

Since the 18th CPC National Congress, 26 groups of 47 central soes have carried out strategic reorganization and professional integration, and the number of central soes has increased from 117 a decade ago to 97 now. Their revenues in key areas such as strategic security, industrial leadership, national economy and people's livelihood, and public services account for more than 70 percent of the total. At the same time, central government enterprises have completed the disposal of "zombie enterprises" and the governance of enterprises in dire need, established a long-term mechanism for reducing the number of legal persons to 38.3% of the total number of households, and reduced all levels of management to within five. We have effectively eliminated the long-standing problem that government and enterprise should not be separated and that social enterprises should be integrated.

Over the past decade, the reform of the three systems for central government enterprises has broken the ice on a wider scale and at deeper levels, introduced the tenure system for managers and contractual management across the board, accelerated the implementation of a market-based employment system, and improved the mechanism for compensation distribution based on performance contributions. The reform of mixed ownership has greatly promoted the transformation of operating mechanisms. Since 2013, more than 2.5 trillion yuan of social capital has been introduced into the restructuring and restructuring of State-Owned enterprises. At present, the number of households owned by central soes and local soes with mixed ownership accounts for more than 70% and 54% respectively.

"The important achievements of deepening SOE reform over the past decade have laid a solid foundation for soes to better play a strategic supporting role in the new era, better serve the country's major strategies and economic and social development, and better help solve the problem of unbalanced and inadequate development." In particular, Weng Jieming pointed out that in the practice of deepening reform, the leadership and party building of state-owned enterprises have been fundamentally strengthened, and high-quality Party building has effectively led and guaranteed the high-quality development of enterprises.

We will ensure that more fruits of development benefit the people

How to effectively promote the high-quality development of central enterprises? The State-owned Assets Supervision and Administration Commission (SASAC) of The State Council has given full play to the "baton" role of business performance assessment and constructed a high-quality development index system with "two benefits and four rates" as the main focus. The "two benefits" refer to total profit and net profit, and the "four rates" refer to profit margin on operating revenue, asset-liability ratio, r&d investment intensity, and total labor productivity. "These indicators are a guide to high-quality development and guide enterprises to transform their development mode from focusing on scale and speed to focusing on improving the quality of development." Weng Jieming said.

At the same time, the scientific and technological innovation in the State-owned Assets Supervision and Administration Commission of the State Council as the "number one task", insist on policy support to try to, should be to try to implement the annual appraisal points, research and development expenses shall be regarded as profit and return, capital injection, such as total wages single package of support policy, implement written pledge to fulfill a military order, JieBang 1, horse racing, such as mechanism, promote the enterprise strengthen innovation, We will unleash our potential for innovation and creation. Through market-oriented reform, the State-owned Assets Supervision and Administration Commission (SASAC) of The State Council has launched a series of special projects, including the "Double Hundred Campaign", "regional comprehensive reform pilot" and "demonstration campaign" to reform state-owned enterprises (soes). These projects have given soes new vitality, high efficiency and sound mechanisms.

A strong enterprise makes a strong country. "An important sign that soes have achieved gratifying results in their high-quality development is that they have taken substantial steps to build world-class enterprises." Weng Jieming introduced that the number of State-Owned enterprises in the world's top 500 increased from 65 in 2012 to 96 in 2021, creating a number of industry leaders with strong competitiveness in shipbuilding, steel, energy, construction, water transportation, equipment manufacturing and other fields.

State-owned assets belong to the whole people and are the common wealth of all the people. Since the 18th National Congress of the Communist Party of China, state-owned assets and soes have continued to unleash and develop productive forces, actively participated in the reform of income distribution, spared no effort to serve and ensure people's wellbeing, continued to optimize and adjust the distribution structure of the state-owned economy, and better promoted common prosperity while protecting and developing the common wealth of the people.

Weng Jieming said that the future will promote state-owned enterprises continue to make a big cake, as the creator of common prosperity; Help points a good cake, as a good scientific distribution of the demonstration; We must keep the cake well, be good defenders of the security of state assets, and ensure that the fruits of development benefit all the people.

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