Recently, the State-owned Assets Supervision and Administration Commission of the State Council held a seminar on deepening and upgrading the reform of State-owned enterprises in charge of the local State-owned Assets Supervision and Administration Commission, fully implemented the mobilization and deployment of television and telephone conference requirements for deepening and upgrading the reform of State-owned enterprises nationwide, summarized the work in the first half of the year, and studied and deployed the next key tasks.

Zhang Yuzhuo, secretary of the Party Committee and director of the State-owned Assets Supervision and Administration Commission of the State Council, stressed that taking the implementation of the deepening and upgrading of state-owned enterprise reform as an opportunity to fully promote the high-quality development of state-owned enterprises to achieve new and greater results. The meeting required that the work of the second half of the year should be solidly done, and the work of deepening and upgrading the reform of state-owned enterprises should be highlighted.

Breakthroughs have been made in key links

The meeting pointed out that in the first half of this year, the quality and efficiency of the development of state-owned enterprises continued to improve, promoting growth through stable operation and expanding investment, and playing a major role in promoting local economic improvement; The reform of state-owned enterprises continued to deepen and make solid progress. The three-year reform of state-owned enterprises was successfully concluded, and new breakthroughs were made in key areas and key links of reform. The supervision system of state-owned assets has been continuously improved, the efficiency of supervision has been continuously improved, and the advantages of professionalized and legalized supervision have been further exerted.

The meeting required that we should do a solid job in the second half of the year and better promote the high-quality development of state-owned assets and state-owned enterprises.

We will focus on deepening and upgrading the reform of state-owned enterprises, firmly grasp the right direction of reform, make solid progress in key tasks of reform, vigorously optimize the layout of the state-owned economy, and enhance the core functions of enterprises.

We will give priority to improving quality and efficiency to ensure steady growth, maintain detailed, real and large accounts, guide state-owned enterprises to strengthen pre-research and pre-judgment, optimize and adjust their business strategies and product mix in a timely manner, reduce costs and expenditure, and increase investment in infrastructure and industrial projects that are conducive to local economic and social development and have a strong multiplier effect and strong traction. To guide and drive the common development of enterprises of all forms of ownership.

We will give priority to improving our capacity for scientific and technological innovation, guide enterprises to continue to increase investment in science and technology, improve institutions and mechanisms for scientific and technological innovation, strengthen research on core technologies and the application of achievements, and help high-quality science and technology become self-reliant.

We will focus on adjusting the layout and structure of the state-owned economy, highlight major industries, focus on industry, adhere to professional development, encourage state-owned capital to invest in the real economy and strategic emerging industries with a foundation for development, and accelerate the high-end, intelligent and green development of traditional industries.

We will focus on improving the supervision system for state-owned assets, raise the level of professionalized, systematic and law-based supervision, continue to deepen classified supervision and assessment, and establish a coordinated and efficient supervision system for state-owned assets.

We will give priority to the prevention and control of major risks, encourage enterprises to pursue high-quality development, resolutely curb the impulse to unilaterally build large scale development, resolutely abandon the extensive development path, strictly control risks such as debt, investment, and compliance operations, and ensure that business results are solid and can withstand testing.

It is necessary to adhere to the leadership of the Party to strengthen the party's construction, highlight the party's political construction, promote the deep integration of enterprise party construction and production and operation, promote the discipline and anti-corruption in a strict tone, and effectively create a clean and clean environment for officers and entrepreneurs.

The "road map" sets clear directions

"This meeting is another mobilization and deployment of the national SOE reform deepening and upgrading action, and can also be seen as a 'road map' for future SOE reform." In the view of Hu Chi, a researcher at the Research center of the State-owned Assets Supervision and Administration Commission of the State Council, the just held teleconference to fully implement the mobilization and deployment of the national State-owned enterprise reform deepening and upgrading action is the mobilization and deployment of a new round of state-owned enterprise reform deepening and upgrading action. "This meeting can be seen as a remobilization and redeployment. The three-year SOE reform campaign has completed its scheduled tasks and made great progress in many aspects, such as the modern enterprise system with Chinese characteristics and the state-owned assets supervision system, which have become more mature and stereotypical. But SOE reform needs to be further deepened and improved."

Hu added that the re-mobilization and re-deployment is to push SOE reform to a new stage in the new period and complete new goals and tasks. This round of SOE reform builds on the successful conclusion of the previous three years of SOE reform efforts. Compared with the previous, it can be said that it is better to combine reform and development, to promote development with reform, development can be positioned as the material and political basis of socialism with Chinese characteristics, and the development of state-owned enterprises should serve the national strategy and serve the country's great needs of high-quality development.

Zhou Lisa, research director of the Institute of Modern State-owned Enterprises of Tsinghua University, believes that the focus of the SASAC's seminar on deepening and upgrading the reform of State-owned enterprises is to emphasize that state-owned capital should be concentrated in three key industries and areas, and emphasize that state-owned capital should be concentrated in important industries related to national security and the lifeblood of the national economy. We will focus on industries that are important to the national economy and people's livelihood, such as the provision of public services, emergency response capacity building, and public welfare, and focus on forward-looking strategic emerging industries.

She further said that in 2020, the "Opinions on Promoting the Optimization and Structural Adjustment of the State-owned Economy in the New Era" reviewed and adopted at the 16th meeting of the Central Commission for Deepening Overall Reform pointed out that promoting the optimization and structural adjustment of the state-owned economy is of great significance to better serve the national strategic goals, better adapt to high-quality development, and build a new development pattern. We must adhere to a problem-oriented approach. In view of the problems existing in the current structure of the state-owned economy, we must deepen supply-side structural reform as the main line, adhere to the principle of doing something and not doing something, focus on strategic security, industrial leadership, the national economy and people's livelihood, and public services, adjust the stock structure, optimize the incremental investment, make state-owned enterprises stronger, better and bigger, and resolutely prevent the loss of state-owned assets. We will continue to enhance the competitiveness, innovation, control, influence, and resilience of the state-owned economy.

Improve supervision and control

It is worth noting that among the key work required by the meeting, special emphasis is placed on the improvement of the state-owned assets supervision system and the prevention and control of major risks.

"Professional, systematic and legalized supervision is the unique advantage of SASAC at all levels." Wu Gangliang, a researcher at the China Enterprise Reform and Development Research Institute, said, "Compared with other institutions that fulfill the responsibilities of investors, SASAC is a 'professional institution to do professional things,' which better realizes the separation of government funds and government enterprises, can play a scale advantage, and is conducive to improving the state-owned assets supervision system based on capital management."

At the beginning of this year, the SASAC held a meeting of the head of the local SASAC pointed out that efforts should be made to prevent and resolve major risks, pay close attention to the risks of local financing platforms, do a good job of risk prevention and control in key areas such as debt, real estate, finance, investment, safety and environmental protection, accelerate the improvement of the risk monitoring and control system, and firmly hold the bottom line of no major risks.

At the seminar for the heads of central enterprises held recently, Zhang Yuzhuo also stressed that it is necessary to effectively prevent and resolve business risks, continue to put the prevention and control of debt risks in a prominent position, improve the construction of the Treasury system, and resolutely adhere to the bottom line of lawfully compliant operations.

In the view of Zhu Changming, partner of the Sunshine Times law firm and head of the state-owned enterprise mixed reform center, the challenges and opportunities of state-owned enterprises coexist, "black swan" and "gray rhino" may come at any time, "fight economy" but also "fight security", only better overall development and security, in order to achieve stable and long-term, high-quality development and high level of security benign interaction.

State-owned enterprises should adhere to the general principle of seeking progress while maintaining stability, and do a good job of preventing and controlling major risks. This is not only the bottom line of state-owned enterprises' production and operation, but also the top priority of their reform and development.

Zhu Changming believes that in order to effectively prevent and resolve risks, state-owned enterprises must take the initiative from the source, especially the concept of high-quality development, low-quality development as the source of risk, resolutely curb the impulse to unilaterally do large-scale, resolutely abandon the extensive development path, do a good job in 2023 "one profit five rate" goal and task implementation, and effectively transform the development of old and new momentum. Ensure solid and verifiable business performance.

In addition, it is necessary to strengthen compliance management and compliance operations, put an end to illegal investment operations, especially strengthen the compliance system construction and process compliance in key areas such as debt and investment, and maintain the bottom line of legal compliance operations.

Finally, improve the big supervision system dominated by intra-party supervision, coordinate the multiple supervision objectives such as stabilizing growth, preventing risks, promoting reform, and strengthening party building, promote the coordination of various supervisory forces such as investor supervision and discipline inspection supervision, inspection supervision, audit supervision, and social supervision, strengthen the supervisory role of the Board of Directors, and form a "big supervision" joint force.

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