SCIO briefing on reform of SOEs

0 Comment(s)Print E-mail China.org.cn, September 28, 2017
Adjust font size:

Speaker:
Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission of the State Council

Chairperson:
Hu Kaihong, spokesperson of the State Council Information Office

Date:
Sept. 28, 2017

Reuters:

My question concerns the future of SASAC. As the modern enterprise system is fully employed by the central SOEs and mixed ownership is implemented within the corporate structure and completed by the central government companies, what is the future role of the SASAC in your estimation? Thank you.

Xiao Yaqing:

Thanks for your question, which inspires us to further consider the issue.

Speaking of the future, we are, on one hand, full of expectations, while, on the other hand, worry about its uncertainties. However, I agree with you that, with the furthering of the reform process, the central SOEs and other SOEs will definitely keep on changing with a new look, substantial achievements and progressive performance. The transformation is a pathway created by consecutive reforms, a pathway of improved systems and, more importantly, a definite trajectory of corporate progress.

We expect the SOEs, including the central SOEs, to keep on developing in such a way.

Will SASAC have nothing to do, when all SOEs have developed well? Of course, I hope we will have nothing to do. However, as far as I know, SASAC undertakes two important tasks assigned by the central government, which are supervision and administration. Since state-owned assets belong to the public, I think SASAC under the State Council, and SASAC organizations at all levels, are needed to preserve and increase SOE value, prevent losses, and enhance their functions so that SOEs and the related state-owned assets can achieve the optimum level and the most reasonable position in economic competition. In this way, SOEs can serve national development strategies and meet people's aspirations for a better life. The central SOEs should lead by example in this regard. SASAC and the SOEs should work together to fulfill all of their political, economic and social responsibilities.

Looking forward, the better the SOEs develop and the more enabling the market economy environment can become, the greater will be the need for SASAC to play an enhanced role. It should have a better grasp of the market economy, market rules and the laws governing enterprise development so as to enhance its supervision.

With regard to the missions and duties of SOEs and central SOEs, the SASAC also has great responsibilities.

There must be a sound legal and economic growth environment for the enterprises to fulfill their missions and duties -- so such supervision is essential. So far, both developed and emerging economies as well as SOEs and non-state economies are required to be regulated and supervised under the rule-of-law.

Therefore, the point is not to discuss the SASAC's future existence. The biggest pressure for us is how to improve it to let our supervision and regulation help boost the growth of enterprises, implement the national policies and achieve the goals of reforms set by the central government as soon as possible. Thank you.

<  1  2  3  4  5  6  7  8  9  10  11  12  13  14  >  


Follow China.org.cn on Twitter and Facebook to join the conversation.
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:    
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter