Since the implementation of the state-owned enterprise reform in the past three years, there have been 835 mixed-ownership enterprises in Shaanxi Province. More than 50 per cent of the assets and revenues of competitive enterprises and more than 70 per cent of the profits come from mixed-ownership enterprises.

In June 2020, the SASAC of Shaanxi Province issued operational guidelines for the mixed ownership reform of provincial soes, providing operational methods and institutional guarantees for provincial soes to carry out the mixed ownership reform in accordance with laws and regulations.

In recent years, SASAC of Shaanxi Province has insisted on "deepening mixed ownership reform by classification and classification" as an important reform task. It has guided provincial enterprises to develop cooperatively based on complementary industrial advantages in accordance with the requirements of improving governance, strengthening incentives, highlighting main industries and improving efficiency. Guided by solving the problems of enterprise system and mechanism, it has formulated plans with "one enterprise and one policy" and promoted each mature one. We will ensure that the reform is effective.

On the basis of the mixed-ownership reform, SASAC of Shaanxi Province guides mixed-ownership enterprises to make a breakthrough in three institutional reforms, comprehensively establish a flexible and efficient market-oriented operation mechanism, and supports qualified enterprises to actively and reliably carry out key employee stock ownership, equity incentive of listed companies, equity dividend incentive of scientific and technological enterprises, and super profit sharing, etc., in the process of mixed-ownership reform. We will further invigorate enterprises.

Shaanxi Provincial SASAC takes enterprise listing as the goal of the mixed reform and actively promotes qualified group companies to go public with their whole or main business. So far, Shaanxi Coal Group has gone public with its main business, Qinchuan Group and Shaanxi Construction Engineering as a whole, and Baosse Shares, Global Printing and Beiyuan Chemical, etc.

Up to now, Shaanxi's mixed-ownership economy has been expanding, with private or foreign investment entering key sectors such as petroleum, coal, equipment manufacturing, military industry, non-ferrous metallurgy, electronic information, modern medicine, new energy and public services. With the growing vitality of enterprises, cooperation with well-known domestic and foreign enterprises has played a positive role in enlarging the function of state capital, establishing a modern enterprise system, realizing scientific and democratic decision-making, and promoting the reform of management mechanism. The connotation of mixed-mix reform is continuously enriched. Through the mixing of different capital, the corporate governance structure, market-oriented operation mechanism and enterprise party building are promoted simultaneously and complement each other.

Source: State-owned Assets Supervision and Administration Commission of the State Council