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The State-owned Assets Supervision and Administration Commission of the State Council responded to the surging: do not engage in Lalang distribution and no timetable, actively and steadily deepen mixed reform

The State-owned Assets Supervision and Administration Commission of the State Council responded to the surging: do not engage in Lalang distribution and no timetable, actively and steadily deepen mixed reform -The-State-owned-Assets-Supervision-and-Administration-Commission-of-the-State

Photo by Peng Huagang, Secretary-General and Spokesperson of the State-owned Assets Supervision and Administration Commission of the State Council Photographed by CIC reporter Zhou Di

On June 17, at the press conference on the reform and development of state-owned assets and state-owned enterprises in the new era held by the Propaganda Department of the Central Committee of the Communist Party of China, a reporter from CIC (www.thepaper.cn) asked: Mixed ownership reform is one of the concerns of state-owned enterprise reform. What active explorations have been carried out since the 18th National Congress of the Communist Party of China? How effective is it? What are the future work ideas?

In this regard, Peng Huagang, secretary-general and spokesman of the State-owned Assets Supervision and Administration Commission of the State Council, said that since the 18th National Congress of the Communist Party of The overall requirement of improving efficiency, actively and steadily advancing the reform of mixed ownership, has promoted the multi-ownership economy to learn from each other’s strengths and complement each other, promote each other, and develop together. There are mainly several aspects:

The first is to coordinate the orientation of the mixed reform. Fully implement the Party’s leadership throughout the entire process of reform, adhere to the basic economic system, adhere to the “two unswerving”, and firmly grasp the correct direction of mixed ownership reform. According to the functional positioning of different enterprises, fully demonstrate the necessity and feasibility of promoting mixed-ownership reform, formulate plans for “one enterprise, one policy”, and advance each one when mature. at the same time,Strengthen the supervision of the entire process of mixed ownership reform, and effectively prevent the loss of state-owned assets.

The second is to continuously improve the institutional system of mixed reform. The top-level design of mixed-ownership reform has been strengthened and improved, and more than 20 institutional documents and supporting policies have been formulated and issued, forming a system covering all aspects of mixed-ownership reform, and strictly regulating the key links and processes of mixed-ownership reform. Together with relevant departments, we have studied and solved common and difficult problems in the reform of land disposal, fiscal taxation, and asset pricing, improved operational norms, removed the “roadblocks” of reform, and lightened the burden of reform.

The third is to actively expand market-oriented capital channels. Give play to the role of the capital market in optimizing the allocation of resources, build a fair, just and open market platform, and openly conduct the transaction and circulation of state-owned assets involved in the mixed-ownership reform process through the capital market. Since 2013, the restructuring and reorganization of state-owned enterprises has introduced more than 2.5 trillion social capital. Since 2019, the State-owned Assets Supervision and Administration Commission, together with the All-China Federation of Industry and Commerce and other departments, have held projects for the mixed ownership reform of central enterprises and the coordinated development of central enterprises and private enterprises for three consecutive years. The promotion meeting has effectively promoted the in-depth promotion of mixed reform. At present, the proportion of mixed-ownership enterprises belonging to central enterprises and local state-owned enterprises accounts for more than 70% and 54% respectively.

The fourth is to focus on deepening the work of systematic “reform mechanism”. Adhere to systematic thinking and coordinated promotion, avoid “mixing up”, fully release the advantages of capital integration of mixed-ownership reform enterprises, and promote enterprises to be pioneers and role models in improving corporate governance and market-oriented operation mechanisms. In strengthening party leadership, the vast majority of qualified mixed-ownership enterprises have established party organizations. In terms of corporate governance, 70% of mixed-ownership companies have directors sent by outside investors. State-controlled listed companies continued to introduce strategic investors with a shareholding ratio of more than 5%, and the shareholding structure and corporate governance were further optimized. In terms of market-oriented operation mechanism, the mixed-ownership reformed enterprises have basically realized the full coverage of the tenure system of management members and contractual management, and have flexibly carried out medium and long-term incentives. Hundreds of listed companies have implemented equity incentives, and 200 technology-based enterprises have implemented equity incentives. and bonus incentives.

Peng Huagang said that through the mixed-ownership reform, a large number of outstanding enterprises with outstanding main business, excellent corporate governance, strong innovation ability and high vitality and efficiency have emerged. Next step,The State-owned Assets Supervision and Administration Commission of the State Council will adhere to the principle of “three reasons, three appropriates and three nos”, and implement policies according to local conditions, industries, and enterprises. Implement full coverage without setting a timetable, and actively and steadily deepen the reform of mixed ownership.Focusing on key tasks such as promoting the in-depth transformation of the operating mechanism of mixed-ownership reform enterprises, further guide the mixed-ownership reform enterprises to improve their corporate governance structure, give full play to the active role of strategic investors, effectively safeguard the rights of all shareholders, and establish and improve a flexible and efficient market-oriented operation mechanism to Mixed-up reforms, in order to achieve effective reforms.

(This article is from CIC, for more original information, please download the “CIC” APP)

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