SCIO briefing on performance of centrally administered SOEs in H1 2021

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Peng Huagang, secretary general of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and spokesperson for the SASAC


Xing Huina, deputy head of the Press Bureau of the State Council Information Office (SCIO) and spokesperson for the SCIO


July 16, 2021

Xing Huina:

Friends from the media, good afternoon! Welcome to this press conference held by the State Council Information Office (SCIO). We are delighted to be joined by Mr. Peng Huagang, secretary general and spokesperson of the State-owned Assets and Administration Commission of the State Council (SASAC). He will introduce the performance of the state-owned enterprises (SOEs) managed by the central government in the first half of this year and answer your questions. 

We will first invite Mr. Peng Huagang to give a brief introduction.

Peng Huagang:

Thank you, Ms. Xing. Friends from the media, good afternoon! First, I'd like to extend my appreciation to you for your long-term attention, care, assistance and support for the SASAC and centrally administered SOEs. As usual, I will make a brief introduction and then answer your questions.  

The first half of this year is an important period for celebrating the centenary of the Communist Party of China (CPC) and realizing our first centenary goal, which is to build a moderately prosperous society in all respects. Under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, the SASAC and centrally administered SOEs have resolutely implemented the decisions and arrangements of the CPC Central Committee. We have followed the general principle of pursuing progress while ensuring stability; seized the opportunities brought by the continuous recovery of production demand; adjusted and optimized their production and operation rhythm; and accelerated to upgrade their efforts for higher quality and better efficiency. In the first half of the year, central SOEs made progress, achieved steady and sound performance, and improved quality while registering relatively fast growth. The economic performance of these enterprises has significantly improved, showing unceasing development resilience.  

In the first half of 2021, the net profits of centrally administered SOEs reached 1.02 trillion yuan, exceeding one trillion yuan in half a year for the first time, up 133.3% year-on-year and 45.4% over the same period of 2019, registering a two-year average growth of 20.6%. In June, the net profits of the central SOEs stood at 244.62 billion yuan, up 54.3% from June 2019, with both the accumulative and monthly net profits hitting a record high. In the first half of this year, the accumulative operating revenues of central SOEs totaled 17.1 trillion yuan, up 28.2% year-on-year and 18.2% over the same period of 2019, achieving a two-year average growth of 8.7%. The operating revenues in June registered 3.6 trillion yuan, up 23.3% from June 2019.  

In the first half of the year, centrally administered grid enterprises sold 3.1 trillion kilowatt-hours of electricity, up 19% year-on-year and 16.9% over the same period in 2019. The power output rose 9.4% in June from a year earlier, registering positive growth for 15 consecutive months. The crude oil output of central SOEs in the petroleum and petrochemical sectors reached 160 million tons, down 0.1% year-on-year and 1 percentage point narrower than that of the first five months. The sales of refined oil stood at 160 million tons, up 8.8% year-on-year. Coal enterprises produced 500 million tons of raw coal accumulatively, up 5.4% year-on-year. The accumulative sales of commercial coal totaled 660 million tons, up 16% year-on-year. Steel enterprises produced 90.38 million tons of steel in total, up 18.3% year-on-year. The total transport turnover of air transportation enterprises was 29.31 billion ton-km, up 38.8% year-on-year, and the monthly total transport turnover has maintained positive growth for five consecutive months.  

In the first half of the year, the SASAC and centrally administered SOEs, always bearing in mind the country's most fundamental interests, have done a tremendous amount of effective work in serving and supporting major national strategies, implementing peak carbon emission and carbon neutrality plans, boosting rural revitalization as well as the production and supply of COVID-19 vaccines, and preventing and defusing major risks. At the same time, a number of super projects made their debut. For example, all the generating units of the Wudongde Hydropower Station under the China Three Gorges Corporation and the first three units of Baihetan Hydropower Station were put into operation. The ultra-deep-water gas field, Deep Sea No. 1, of China National Offshore Oil Corporation (CNOOC) started production. The venues of Beijing 2022 Winter Olympics undertaken by China Minmetals Corporation and China Communications Construction Company were fully completed. A number of major programs presented a steady flow of feats. For instance, China's Tianwen-1 spacecraft left a Chinese footprint on Mars for the first time; the Shenzhou-12 spaceship conducted a fast autonomous rendezvous and docking with China's space station core module Tianhe; and the domestically designed third-generation nuclear reactor Hualong One entered commercial operation. Major projects and programs have been put into operation intensively, effectively demonstrating the strength of the country and greatly boosting the morale of the people in this year of grand celebration. 

A few days ago, the SASAC Party committee held a seminar for leaders of central enterprises to fully study and put into practice the guiding principles of General Secretary Xi Jinping's important CPC centenary ceremony speech on July 1, and made special work arrangements for the second half of the year. Next, the SASAC will follow the guidelines of General Secretary Xi Jinping's important speech on July 1, adhere to the general principle of seeking progress while pursuing stability, consciously incorporate the work of the SASAC and centrally administered SOEs into fostering a new development paradigm for overall consideration and planning. We will work hard and actively make progress and real results. We will focus on priorities and strengthen our foundation, and further arm ourselves with the Party's innovative theories. We will work on our foundation and look to the long run, and effectively promote the high-quality development of enterprises. We will concentrate on urgent tasks and better tackle critical problems, and resolutely carry out key reform and innovation missions. We will pay attention to security and prevent risks, and cement the bedrock for safe development. We will emphasize providing support and gave play to advantages, and comprehensively improve the quality of Party building work in our enterprises. By doing so, we aim to ensure the fulfilling of various goals and tasks, get off to a good start of the 14th Five-Year Plan, and make positive contributions to the steady and healthy growth of the national economy.  

Now, I would like to take your questions. Thank you.

Xing Huina:

Thank you, Mr. Peng, for your introduction. The floor is now open for questions. Please state the name of your media organization before asking your question.

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