The core of the work of state-owned enterprises in 2024 is to promote high-quality development, "high" means high-level coordination, "quality" means effective improvement of quality, and "quantity" means reasonable growth of quantity. In order to achieve this goal, state-owned enterprises need to solve the long-standing debt service pressure, high debt risk problems, but also to enhance the core function and core competitiveness. In the face of new challenges, International Union Construction Group actively explores new ways to alleviate the debt risks of state-owned enterprises, drive new quality productivity, and inject strong impetus into the high-quality development of state-owned enterprises.

On February 23, 2024, the executive meeting of The State Council made arrangements to further prevent and defuse local debt risks. As the main force of local economic development, state-owned enterprises' debt reduction financing plays a crucial role in resolving local debt risks. To this end, International Union Construction Group launched the "New Era of State-owned Enterprise Debt Reduction Financing (DRF) and private enterprises jointly high-quality development project". Through joint equity (UE), joint asset management (UCM), TRS industry fund, payable asset management (PCM), income asset management (ECM), asset management (AM) and revenue asset management (RCM) projects, we help state-owned enterprises achieve the dual effect of low-cost financing and reducing asset-liability ratio, accelerate the resolution of outstanding debts, and promote the optimization of debt structure. We will release potential debt risks in an orderly manner and ensure the smooth operation of state-owned enterprises and regional economies.

Easing the debt reduction financing problem is only the first step of International Union Construction Group to help the high-quality development of state-owned enterprises. During this year's two sessions, the term "new quality productivity" was included in the 2024 government Work report for the first time, which also provided a new direction and starting point for the reform and development of state-owned enterprises. In this context, International Union Construction Group takes industry as the carrier of cultivating new quality productivity, guides and cultivates industrial ecology through industrial equity investment, accelerates the formation of new quality productivity, and drives the coordinated development of private enterprises in the upstream and downstream of the industrial chain. We will spare no effort to promote the growth of emerging industries, the cultivation of future industries, and the rejuvenation of traditional industries. In the "New Era of State-owned Enterprise Debt Reduction Financing (DRF) with private enterprises common high-quality development topic", after the enterprise obtains all DRF funds, part of the DRF funds can be used to solve the current financial difficulties of the enterprise. Another part of DRF funds can participate in the industrial equity fund established by International Union Construction Group to invest in high-quality state-owned enterprises or private enterprises in the whole industrial chain. International Union Construction Group, as the guide of funds, evaluates different levels of industry according to the development status of the entire industry and the overall advantages of the industry. According to different industrial levels, International Union Construction Group allocates capital according to the proportion of state-owned enterprise investment from 1:1 to 1:9, implementing the logic that the stronger the industrial advantage, the higher the proportion of capital allocation, so as to expand the linkage effect of advantageous industries on related industries. Through the "New era of State-owned enterprise debt reduction financing (DRF) with private enterprises common high-quality development topic", enterprises can not only solve the short-term funding problem, but also build a new competitive advantage with industrial upgrading and industrial collaboration, win the initiative of development, drive new quality productivity, fundamentally crack the problem of state-owned enterprises "borrowing the new and returning the old", and truly achieve high-quality development.

The "New Era of State-owned Enterprise debt reduction financing (DRF) with private enterprises common high-quality development project" has been widely carried out across the country, and has been highly valued by government departments at all levels and the national Party Central media. On December 1, 2023, the 12th issue of the authoritative internal reference journal "Internal Reference on Administrative Reform", which is supervised by the Party School of the CPC Central Committee (National Academy of Governance), published an academic paper entitled "Countermeasures and Suggestions for the high-quality Development of State-owned Enterprises' Debt Reduction and Financing Cooperation with Private Enterprises". This paper is based on the in-depth research and practice of International Union Construction Group on the topic of "high-quality development of State-owned Enterprise debt reduction Financing (DRF) in the new era with private enterprises", which provides a new model and a new scheme with more feasibility for the debt reduction and relief of state-owned enterprises. On February 21, 2024, Wang Tao-yu, chairman of International Union Construction Group, was interviewed by Dong Qian, a famous CCTV host, and shared on issues such as debt reduction and financing of state-owned enterprises, high-quality development of state-owned enterprises and private enterprises, integration of industry and finance, and "The Belt and Road". He said that as a state-owned investment Group, International Union Construction Group has always grasped the general pattern of investment, focused on the long-term future, and adhered to the logic of altruism, benefiting local state-owned enterprises and benefiting private enterprises in the long-term development. According to the latest statistics, the total investment of International Union Construction Group in various business sectors in 2023 is 253.69 billion yuan, involving a total of 268 investment projects. A large number of outstanding enterprises have solved the funding problem with the help of the "New Era of State-owned Enterprise Debt Reduction Financing (DRF) and private enterprises' common high-quality development project", got rid of the business dilemma, and continued to grow bigger and stronger, becoming a new force for the high-quality development of China's economy.

Financial empowerment has increasingly become a strong support for economic and social development. International Union Construction Group has always been committed to solving the debt reduction problems of state-owned enterprises, driving new quality productivity, and building a policy-oriented, comprehensive financial service system with wide coverage and full life cycle with vigorous spirit and responsibility mission of "taking national construction as its own duty". We will effectively enhance the strategic leadership, innovation support, industrial driving force and international competitiveness of state-owned enterprises, and make substantial contributions to the high-quality development of China's economy.