Ying Yong Visits SIG, Guosheng Group, Calls for Efforts to Build Shanghai into Demonstration Zone for Comprehensive State-owed Asset and Enterprise Reform

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Shanghai International Group (SIG) and Guosheng Group (Guosheng) should, based on the requirements of reforming the system of authorized operations of state-owned capital, constantly deepen its own reform, explore the integrated reform of state-owned asset regulatory authories, state-owned asset operation platforms and state-owned enterprises, and perfect the operation mechanism of platform companies.

On the afternoon of July 9, during a field survey on SIG and Guosheng, Ying Yong, Deputy Secretary of the CPC Shanghai Municipal Committee and Mayor of the Shanghai Municipal People's Government noted that Shanghai's state-owned asset and enterprise reform is at a new historical point, calling for efforts to implement the spirit of the 19th CPC National Congress and the deployment and requirements of the CPC Central Committee and the State Council, perseveringly advance Shanghai's state-owned asset and enterprise reform according to General Secretary Xi Jinping's important instruction of deepening the state-owned enterprise reform, and further enhance state-owned enterprises' vitality, competitiveness, influence and control of major fields of national economy and people's livelihood, thus building Shanghai into a demonstration zone for comprehensive state-owned asset and enterprise reform. He hoped that the enterprises would further enhance their role as state-owned asset platform companies, continue to deepen their own reform, renovate systems and mechanisms, and standardize operations and management, thus becoming leaders in Shanghai's new-round state-owned asset and enterprise reform, engines powering the state-owned economy of Shanghai and boosters to Shanghai's city level and core competitiveness, and making greater contributions to Shanghai's efforts in speeding up the building of "five centers" and excellent global city.

In the afternoon, Ying visited Guosheng and SIG along with Zhou Bo, Member of the Standing Committee of the CPC Shanghai Municipal Committee and Executive Vice Mayor of the Shanghai Municipal People's Government, to find out their operations and development. In the talks with heads of the enterprises, he reviewed Shanghai's key ideas and measures of advancing the state-owned assets and enterprise reform in recent years. He noted that SIG and Guosheng have made remarkable contributions to the economic transformation and the state-owned assets enterprise reform of Shanghai as important outcome of Shanghai's efforts to deepen the state-owned assets and enterprise reform, important links of deepening the reform and major players of the reform.

"The state-owned assets and enterprise reform is an on-going process and will never end," said Ying, requiring that SIG and Guosheng should enhance their role as Shanghai's state-owned asset operation platforms, give play to their role as major players of state-owned capital operation, major shareholders of state-owned enterprises and channels of state-owned assets", deepen and improve their primary business, to maintain and enhance the value of state-owned assets. Both enterprises should not only strengthen coordination, but also have different focuses. SIG should exert its financial advantage, to support the accelerated development of municipal financial institutions, support various national financial factor markets in settling in Shanghai, and serve "five centers", pilot free trade zone, technology innovation center, "Belt and Road" development and other strategies. Guosheng should exert its industrial advantage, invest in and serve projects in fields including large civil aircraft, integrated circuit, software information, marine nuclear power and civil-military integration.

"The reform of state-owned capital operation platform companies has a major bearing on the success of the state-owned assets and enterprise reform of Shanghai," said Ying, requiring that SIG and Guosheng should, based on the requirements of reforming the system of authorized operations of state-owned capital, constantly deepen its own reform, explore the integrated reform of state-owned asset regulatory authorities, state-owned asset operation platforms and state-owned enterprises, and perfect the operation mechanism of platform companies; should improve the internal governance structure of platform companies, build a modern state-owned enterprise system with Chinese characteristics, and make the reform a key measure to release the vitality and creativity of state-owned enterprises; and should improve the assessment mechanism, the talent use mechanism, the salary system and the incentive mechanism.

Ying stressed that SIG and Guosheng should explore business and model innovation, and improve state-owned asset operation and investment management, according to the changes in domestic and foreign situation, the needs of major national and municipal strategies, the need of real economy development and the need of municipal financial function deployment, on the premise of effectively preventing risks; should uphold the Party's leadership over state-owned enterprises and standardize management with focus on strengthening Party building; and should strengthen the Party style building of state-owned enterprises, strengthen the self discipline and management of enterprise leaders and strengthen the management of invested enterprises.

 

 

 

 

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