From December 25 to 26, the State-owned Assets Supervision and Administration Commission of the State Council held a meeting of central enterprise leaders to fully implement the spirit of the Party's 20 Major Congress and the spirit of the Central Economic Work Conference, summarize the work of state-owned central enterprises in 2023, and study and deploy key tasks in 2024. Zhang Yuzhuo, secretary of the Party Committee and director of the State-owned Assets Supervision and Administration Commission of the State Council, attended the meeting and made a speech, stressing that it is necessary to deepen the implementation of the important discussion of the General Secretary of the Jinping Xi on the reform and development of state-owned enterprises and Party building, implement the deployment requirements of the Party Central Committee and The State Council leaders, adhere to and strengthen the Party's overall leadership of state-owned central enterprises, and focus on enhancing core functions and improving core competitiveness. We will further implement the actions to deepen the reform and upgrading of state-owned enterprises, strive to improve the innovation and value creation capabilities of central enterprises, promote the "three concentrations" of state capital, accelerate the construction of a modern industrial system, achieve high-quality development, and better leverage the role of scientific and technological innovation, industrial control, and security support. In order to continue to promote the qualitative and effective improvement of the economy and reasonable quantitative growth, We will make new contributions to building China into a strong country in an all-round way and to national rejuvenation through Chinese-style modernization. Members of the Party Committee of The State Council SASAC attended the meeting.

The meeting pointed out that in 2023, under the strong leadership of the Party Central Committee with Comrade Jinping Xi as the core, state-owned central enterprises firmly grasp the theme of high-quality development, adhere to the general tone of seeking progress in stability, push forward, overcome difficulties, and take solid steps in high-quality development. From January to November, total profits reached 2.4 trillion yuan, investment in fixed assets reached 4.1 trillion yuan, an increase of 9.1 percent year on year, and investment in research and development exceeded 900 billion yuan, an increase of nearly 70 billion yuan year on year. The quality of enterprise development became better and the foundation for enterprise development became more solid. The layout of modern industries accelerated in all respects, strategic emerging industries and industries of the future made unprecedented efforts, traditional industries were upgraded at a faster pace and improved in quality, and important energy and resources were increasingly secured. The intensity of scientific and technological innovation has been significantly increased, and the dominant position of enterprises in scientific and technological innovation, the construction of innovation systems, and the output of innovation achievements have been continuously strengthened. We launched actions to deepen and upgrade the reform of state-owned enterprises, accelerated the implementation of key reform tasks, and continuously improved the performance of oversight and services. We acted resolutely and vigorously to serve the "great nation", made new progress in the alignment of regional strategies, ensured people's well-being and the overall situation regardless of cost, and made new achievements in opening up and cooperation. Party leadership Party building has been further strengthened, ideological and political guidance has been continuously strengthened, the quality of party building work has been further improved, and the political ecology of clean and clean air has been continuously consolidated.

The meeting stressed that it is necessary to firmly fulfill the major mission entrusted by the CPC Central Committee to state-owned central enterprises in the new era and a new journey, adhere to high-quality development as the absolute principle, further promote layout optimization and structural adjustment, and promote the continuous concentration of state-owned capital in important industries and key areas related to national security and the lifeblood of the national economy. We will focus on important industries and key areas related 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. Enterprises should focus on strengthening core functions and improving core competitiveness, highlighting key points and grasping key points, and pay more attention to improving the value of five aspects, that is, pay more attention to increasing added value, further establish the correct concept of development and political performance, unswervingly develop and expand the state-owned economy, and improve the contribution of central enterprises to national economic growth; Pay more attention to the promotion of functional value, further strengthen strategic awareness and functional orientation, achieve the organic unity of economic attributes, political attributes and social attributes at a high level, and better reflect the status and role of serving the national strategic goals and the overall modernization drive; We will pay more attention to increasing economic added value, optimize the investment and distribution of capital, resolutely curb blind investment impulses, reduce the use of inefficient and ineffective capital, generate more profitable income and profit with cash flow, and improve the efficiency and quality of business operations. We will pay more attention to increasing the share of revenue and added value of strategic emerging industries, further strengthen the sense of urgency to accelerate industrial upgrading and build a modern industrial system, accelerate the shift to innovation-driven connotative growth, vigorously promote new industrialization, build new industrial pillars, and intensify efforts to develop new quality productive forces. Pay more attention to promoting brand value, establish high goal pursuit, pay attention to off-balance sheet assets, continuously improve the added value of enterprise brands and brand leadership, accelerate the construction of world-class enterprises, continue to strengthen and improve in the service of the national strategy, and better promote the implementation of the decision deployment of the Party Central Committee in the state-owned central enterprises.

The meeting stressed that in order to better promote high-quality development, in 2024, SASAC will maintain the "one profit and five rates" target management system for central enterprises as a whole, and the specific requirements are "one profit stable growth, five rates continuous optimization", that is, the efficiency of central enterprises will steadily improve, and the total profit, net profit and net profit of the mother will grow synergically. The rate of return on equity, total labor productivity, and operating cash ratio improved year on year, the intensity of R&D investment and the efficiency of scientific and technological output continued to rise, the overall asset-liability ratio remained stable, and we prevented and defused risks through high-quality development. Resolutely serve as a strategic force for comprehensively building a great modern socialist country, a leading force for comprehensively upgrading China's industrial system, and a supporting force for promoting the country's economic and social development. It is necessary to solidly do the key work of the reform and development of central enterprises in 2024, and highlight the "six efforts". Focus on improving quality and efficiency, solidly promote high-quality steady growth, effectively play the key role of effective investment, continue to strengthen lean operation management, and promote China's economy to continue to recover and improve; We will intensify efforts in scientific and technological innovation, fully implement the new nationwide system, vigorously improve the overall efficiency of innovation, systematically optimize the innovation ecosystem, and better leverage the main role of enterprises in scientific and technological innovation. We will strive to optimize the layout and adjust the structure, vigorously cultivate new industries and new racetracks, continue to promote the transformation of traditional industries, strengthen the guidance of key links in the industrial chain, and accelerate the promotion of new industrialization. We will deepen the reform of state-owned assets and state-owned enterprises, deepen reform by optimizing resource allocation, improving institutions and mechanisms, and accelerate the development of new modern state-owned enterprises. We will strengthen our ability to provide strategic support, resolutely implement major national strategic plans, do our utmost to safeguard national security, provide solid services for people's well-being and ensure basic security, and better serve the overall situation of economic and social development. We will work hard to prevent and defuse major risks, resolutely and effectively prevent and control risks in key areas, accelerate the improvement of long-term mechanisms for compliance management, strictly and carefully address safety and environmental protection work, and firmly maintain the bottom line of safe development.

The meeting stressed that it is necessary to adhere to and strengthen the Party's overall leadership of the work of state-owned enterprises, take the inspection and rectification as an opportunity, take the compaction of the political responsibility of Party management and Party governance as the key, focus on improving the comprehensive and strict party governance system, focus on the "two maintenance" to strengthen the political construction of the Party, focus on the selection of cadres and talents to build a strong team, focus on the compaction responsibility to consolidate the grassroots foundation of Party construction, Focus on the core to grasp the real ideological work, focus on the strict atmosphere to strengthen the positive wind discipline anti-corruption, with the strictest and most practical attitude to pay close attention to the inspection and rectification, the overall system to improve the quality of party building, to provide a fundamental guarantee for the high-quality development of enterprises.

The meeting required that we should do a solid job at the end of the year and the beginning of the year. Make every effort to do a good job this winter and spring, especially during the "two festivals", and effectively ensure that coal and electricity for heating and gas for people's livelihood are used, so as to ensure that the people feel comfortable and warm in winter. We will tighten production safety responsibilities, investigate potential safety hazards in key areas, improve emergency plans and preventive measures, and resolutely prevent major accidents from occurring. We will do a solid and meticulous job in ensuring the stability of petitions and visits, address the source of petitions and visits, effectively put an end to unpaid accounts, ensure the payment of wages to rural migrant workers, care about the lives of workers in need, and ensure that the people's livelihood is in the hearts of the people.

During the meeting, representatives of the participants held group discussions. Weapons Equipment Group, China Aviation Development, CNOOC, China Resources Group, China Machinery General Institute, China Electrical Equipment and other six companies in charge of the main comrades made an exchange speech.

The Secretary general and deputy secretary general of the State-owned Assets Supervision and Administration Commission of the State Council, the main responsible comrades of the central enterprises, and the conveners of external directors attended the meeting. Leading comrades of relevant units of the central and state organs were invited to attend the meeting. The discipline inspection and supervision group of the SASAC under The State Council, the responsible comrades of the departments and bureaus, directly affiliated units and inspection groups attended the meeting.

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