Abstract: The three-year reform of state-owned enterprises has entered a decisive Key Stage. The Political Bureau meeting of the Central Committee of the Communist Party of China held on July 28th this year emphasized the need to continue implementing the three-year action plan for state-owned enterprise reform.
The three-year reform of state-owned enterprises has entered a decisive Key Stage. The Political Bureau meeting of the Central Committee of the Communist Party of China held on July 28th this year emphasized the need to continue implementing the three-year action plan for state-owned enterprise reform. This is not only a full recognition of the achievements made in the three-year action of state-owned enterprise reform, but also a fervent expectation and encouragement for high-quality completion of the three-year action tasks. "said Weng Jieming, Deputy Director of the Office of the State owned Enterprise Reform Leading Group of the State Council and Deputy Director of the State owned Assets Supervision and Administration Commission.
According to the introduction, based on online data, the completion rate of the reform work ledger in various central enterprises and regions has exceeded 98%. Especially since the beginning of this year, central enterprises and various regions have gradually shifted their focus from focusing on reform progress to improving quality and seeking practical results, and have achieved new results in promoting the three-year action.
However, there are still outstanding issues in the reform, such as imbalance, insufficient penetration into the grassroots frontline, inadequate implementation of some key reform tasks, and the need to improve the quality and effectiveness of the reform. State owned assets and state-owned enterprises should effectively enhance their sense of urgency and pertinence in addressing weaknesses and strengths, and prioritize the effectiveness of reform.
In July of this year, the Office of the State owned Enterprise Reform Leading Group of the State Council issued a notice on matters related to the high-quality closure of the three-year action on state-owned enterprise reform. On September 1st, a special promotion meeting was held, focusing on consolidating and deepening the three-year action of state-owned enterprise reform, and re deploying and advancing the weak and strong areas to address weaknesses.
Based on the common and prominent issues reflected in practice, the meeting emphasized five major categories of tasks, which should focus on key points, target and tackle key problems, and further accurately, dynamically, and efficiently promote the work of addressing weaknesses and strengths. Specifically, the tasks related to corporate governance should focus on clear rights and responsibilities, with a focus on precise connection, smooth operation, and optimization and improvement; The tasks related to the "Three Capabilities" mechanism should focus on universal activation, with a focus on implementing effective measures, expanding and deepening, and creating an atmosphere; The tasks related to resource optimization and allocation should focus on core competitiveness, with a focus on overall optimization, effective measures, and the formation of a new pattern; The reform tasks related to listed companies should focus on demonstration and leadership, with a focus on standardizing operations, improving quality, and becoming a model; The tasks related to state-owned asset supervision should focus on improving regulatory efficiency, with a focus on unified regulation, organic linkage, and collaborative efficiency.
State controlled listed companies are the main body of state-owned enterprises. It is of great significance to deepen reform and further improve listed companies, and play a leading role in demonstration. The meeting made specific arrangements for deepening the reform of state-owned holding listed companies.
Firstly, we need to optimize the equity structure to promote the improvement of governance mechanisms. Continue to vigorously promote listed companies with state-owned shareholders holding more than 50% of the shares, introduce active shareholders holding 5% or more to participate in corporate governance, and support active shareholders in nominating directors to participate in listed company decision-making. Encourage central enterprises and local governments to participate as active shareholders in improving corporate governance through various means such as subscribing for shares and exchanging shares.
Secondly, we need to increase the authorization and delegation of power to listed companies. State controlled shareholders shall fulfill their responsibilities as investors in accordance with the proportion of investment and the company's articles of association, and shall not interfere with the operational autonomy of listed companies through administrative means. Prioritize the full implementation of various powers of the board of directors in listed companies in accordance with the law.
Once again, we need to promote listed companies to become pioneers and role models in market-oriented management mechanisms. Listed companies should take the lead in completing high-quality market-oriented mechanism reform tasks required by the three-year action plan. Support and encourage listed companies to comprehensively benchmark and targeted catch up with top companies in the same industry in terms of performance, efficiency, and other aspects.
Finally, we need to continue to promote the deep transformation of business mechanisms in mixed transformation enterprises.
It is worth noting that China's state-owned enterprises have a large number and a wide range, traditional system inertia is large, and reform starting points are different. In order to achieve universal, profound, and reborn institutional and mechanism changes, we must strive to overcome difficulties, do well, and achieve success.
The meeting called for enhancing the synergy of the system, optimizing reform methods, and comprehensively and high-quality completion of the three-year action tasks. The main responsible comrades of each unit should shoulder the first responsibility and personally deploy and promote; For unfinished, low-quality, and insufficient reform tasks, the leadership team should implement a "contract responsibility system". Strengthen organizational leadership, consolidate basic work, adhere to problem orientation, encourage innovative work, and accelerate the construction of a world-class enterprise.