By the end of November 2022, the total assets of enterprises under local supervision reached 205.5 trillion yuan, up 10.1% year on year, according to a meeting of heads of the local State-owned Assets Supervision and Administration Commission held on Thursday. From January to November, the operating revenue reached 33.7 trillion yuan, an increase of 8.1% year-on-year.

"Facing the adverse situation of increasing various risk factors, local SASAC has taken a series of targeted hard measures to guide and promote enterprises to stabilize production, stable operation and stable market. Soes' economic performance has bottomed out and stabilized, playing an important role in promoting local economic and social development." Zhang Yuzhuo, Party secretary of State-owned Assets Supervision and Administration Commission of the State Council, said at the meeting.

The meeting, held on the same day, summarized the work of state-owned enterprises in 2022 and identified the key tasks in 2023. Information at the meeting shows that in 2022, the three-year SOE reform campaign will be successfully concluded with high quality. The modern enterprise system with Chinese characteristics is becoming more mature and stereotyped. Three institutional reforms have broken the ice on a large scale and at a deep level. Mixed-ownership reform was deepened actively yet prudently. For example, Guangdong has introduced 16 incentive methods, including equity incentive, incremental incentive and special incentive, to guide enterprises to make good use of medium - and long-term incentive policies. At present, all local governments have promoted the tenure system of managers and contractual management. Liaoning Province through the mixed reform to promote Shengu Group and a number of other old enterprises to revitalize new vitality.

In addition, the strategic reorganization, professional integration in-depth. Hainan is included in China General Aviation free of charge. Shandong adheres to the principle of "one main business and one main body" and has established a number of characteristic and advantageous enterprises, such as Provincial Environmental Protection Group, Provincial Sports Group and Provincial Electronic Port Company. The coordinated development of state-owned enterprises and private enterprises is further advanced. Focusing on accelerating the construction of new forms of business in the new-energy automobile industry, Chongqing has deepened strategic cooperation with seven leading enterprises in the automobile industry chain, such as Nio, Geely, Chery and Great Wall.

The meeting also "designated priorities" for the work of state-owned assets and soes this year, which will mainly focus on improving the quality, efficiency and steady growth, a new round of actions to deepen and upgrade the reform of state-owned enterprises, intensify the scientific and technological innovation work of state-owned enterprises, promote the optimization of state capital layout and structural adjustment, and accelerate the construction of a modern industrial system.

It is understood that in 2023, the operation target of central enterprises is set as "one profit and five rates" index "one increase, one stability and four improvement". "One increase" means to ensure that the total profit growth rate is higher than the national GDP growth rate, and strive to achieve better performance; "Stability" means that the overall asset-liability ratio remains stable. "Four improvements", namely the return on equity, research and development investment intensity, total labor productivity, operating cash ratio of four indicators further increased. At the meeting, the local SASAC can refer to the actual development of scientific and reasonable, challenging business objectives, come up with more effective measures to further improve the contribution of state-owned economy to economic and social development.

It was also revealed at the meeting that state capital will continue to be concentrated in important industries and key areas this year. Local governments should strengthen the effective supply of state-owned enterprises in areas related to people's livelihood, such as medicine and healthcare, health care and elderly care, and emergency care, improve the support and guarantee capacity of public service systems such as water, electricity, gas, heating, and communications, and speed up the development of solid enterprises with clear sectors, prominent main industries, and leading industries.

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