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the three-year sprint to reform state-owned enterprises has come to an end

the three-year campaign to reform state-owned enterprises has entered a decisive stage. a meeting of the political bureau of the cpc central committee on july 28 stressed the continued implementation of the three-year action plan for soe reform. "this is not only a full recognition of the achievements made in the three-year campaign to reform state-owned enterprises, but also a strong expectation and encouragement for the high-quality completion of the three-year campaign." "said weng jieming, deputy director of the state council leading group office for soe reform and deputy director of sasac.


according to the introduction, according to the online data, the reform work of central enterprises and local governments have been completed more than 98 percent of the time. in particular, since the beginning of this year, central enterprises and local governments have gradually shifted the focus of their work from focusing on the progress of reform to improving quality and seeking results, and new achievements have been made in the three-year campaign.


however, there are still some serious problems in the reform, such as imbalance, insufficient penetration of grassroots and front-line reform, lack of implementation of some key reform tasks, and the quality and effectiveness of reform still need to be improved. state assets and state-owned enterprises should strengthen their sense of urgency and pertinence in strengthening their weak areas, and make the effectiveness of reform a top priority.


in july this year, the office of the state council leading group for state-owned enterprise reform issued a notice on matters related to ensuring high-quality closure of the three-year soe reform campaign. on september 1, we held a special promotion meeting, focusing on consolidating and deepening the three-year reform of state-owned enterprises and reinforcing areas of weakness.


combined with the common outstanding problems reflected in practice, the conference emphasized five types of tasks, to lock the key points, targeted breakthroughs, and further accurately, dynamically and efficiently promote the strengthening of weak areas of work. specifically, corporate governance related tasks should focus on clear rights and responsibilities, focusing on precise cohesion, run-in operation, optimization and promotion; the tasks related to the "three energy" mechanism should focus on universal activation, focusing on the implementation of effective, broadening and deepening, and forming an atmosphere; tasks related to optimal allocation of resources should focus on core competitiveness, focusing on overall optimization, effective measures, and forming a new pattern; the related reform tasks of listed companies should focus on demonstration and leading, focusing on standardizing operation, improving quality and becoming a model; tasks related to the supervision of state assets should focus on improving the effectiveness of supervision, focusing on unified standards, organic linkage, and efficient coordination.


state-owned holding listed companies are the main body of state-owned enterprises. it is of great significance to further improve listed companies and give full play to their exemplary and leading role through deepening reform. the meeting made specific plans for deepening the reform of state-holding listed companies.


first of all, the ownership structure should be optimized to promote the improvement of governance mechanism. we will continue to vigorously promote listed companies with state-owned shareholders holding more than 50% of their shares, introduce active shareholders holding 5% or more of their shares to participate in corporate governance, and support active shareholders in nominating directors to participate in the decision-making of listed companies. central enterprises and local governments are encouraged to participate as active shareholders in improving corporate governance by subscribing for shares or exchanging shares.


secondly, it is necessary to strengthen the delegation of power to listed companies. the state-owned controlling shareholders shall perform their duties as investors in accordance with the proportion of capital contribution and the company's articles of association, and shall not interfere with the management autonomy of the listed company through administrative means. give priority to fully implementing the functions and powers of the board of directors in listed companies in accordance with the law.


third, we should promote the listed companies to become the vanguard of market-oriented management mechanism. listed companies should take the lead in completing the market-oriented mechanism reform tasks required by the three-year action. support and encourage listed companies and leading enterprises in the same industry in performance, efficiency and other aspects of the full range of benchmarking, targeted catch-up.


finally, we should continue to promote the in-depth transformation of mixed - reform enterprise management mechanism.


it is worth noting that the state-owned enterprises in china have a large number and wide area, a large inertia of the traditional system and a different starting point of reform. to realize the universal, profound and transformational reform of the system and mechanism, we must work hard and achieve good results.


the meeting called for greater synergy among systems, improved reform methods, and comprehensive and high-quality completion of the three-year mission. the main comrades in charge of each unit should shoulder the first responsibility and personally deploy and promote; for reform tasks that have not yet been completed, that are of low quality and that are not effective, the leading bodies should adopt a "system of guarantee". strengthen organization and leadership, lay a solid foundation, adhere to the problem-oriented, encourage innovation to promote work, and accelerate the construction of world-class enterprises.


source: state-owned assets supervision and administration commission of the state council


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