SCIO briefing on the performance of centrally administered SOEs in Q1

The State Council Information Office held a press conference in Beijing on Monday to brief the media on the performance of state-owned enterprises managed by the central government in the first quarter of 2020. April 22, 2020

Peng Huagang:

Second, we will accelerate the establishment and improvement of a market-based operation mechanism. We will advance the contract management of management members' tenures and the establishment of a professional managers system, and we will encourage SOEs to actively coordinate the use of medium- and long-term incentive policies to increase their vitality and efficiency. 

Third, we will actively, yet prudently, deepen the reform of introducing mixed ownership to SOEs of different levels and categories. In particular, we will promote an in-depth transformation of operating mechanisms in mixed-ownership enterprises and give full play to the positive role of the shareholders of non-state-owned enterprises.

Fourth, we will improve the distribution of state-owned assets and promote strategic restructuring and specialized integration to guide enterprises in further focusing on the real economy and strengthening their core business. The SOEs, in particular, will be given their guiding role in structural improvement, free circulation and stable growth in a bid to offset the negative impacts of the pandemic.

Fifth, we will improve the state-owned assets supervision system, with a focus on the management of capital. We will delegate more powers in order to have state-owned assets play an effective role in investment and company operation.

Sixth, we will push forward special projects, including the "Double Hundred Actions" and "Comprehensive Regional Reform Tests," as well as "Demonstrative Actions on Reforms of Technology-Based Enterprises," to give full play to their demonstrative and leading roles.

Seventh, we will further strengthen the Party's overall leadership with respect to SOEs. We will boost the Party building in SOEs and give a leading role to entrepreneurs so they may lead the development of SOEs with high-quality Party building. Thank you. 

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