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Leaders of China Minmetals Attend the Meeting of Persons in Charge of Central State-owned Enterprises


2020-12-30
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The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held the meeting of persons in charge of central state-owned enterprises (SOEs) in Beijing from December 24 to 25, 2020. At the meeting, SASAC reviewed the work in 2020 and during the 13th Five-Year Plan, studied the tasks of the 14th Five-Year Plan and laid out the priorities in 2021, with an aim to helping central SOEs start a new journey. Mr. Tang Fuping, China Minmetals' Party Group Secretary and Chairman, and Mr. Guo Wenqing, China Minmetals' President and Deputy Party Group Secretary and MCC Chairman, attended the meeting.

Hao Peng, Party Committee Secretary and Director of SASAC, addressed the meeting. Chen Chaoying, Leader of Discipline Inspection and Supervision Team of National Supervisory Commission under the CPC Central Commission for Discipline Inspection in SASAC and Party Committee Member of SASAC, presided over the meeting. In the meeting, it was noted that in 2020, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, SASAC and central SOEs firmly implemented all major policies and plans made by the CPC Central Committee and the State Council, forged ahead and created new progress, overcame unprecedented difficulties and challenges, and ensured a complete success in the 13th Five-Year Plan. During the 13th Five-Year Plan, central SOEs achieved generally stable growth while making further progress and markedly improved the quality of growth, leading to significant increase in their competitiveness, creativity, ability to control, influence and risk resistance capacity. In addition, central SOEs achieved substantial improvement in Party leadership and building, and fully performed their economic, political and social responsibilities. In the 14th Five-Year Plan, central SOEs shall rally closer around the grand blueprint proposed in the fifth Plenary Session of the 19th CPC Central Committee and work to push the high-quality development of central SOEs to a new height.

It was noted that the year 2021 was of special importance to the process of China's modernization. It is stressed that to better guide central SOEs to move toward high-quality development, SASAC shall uphold problem-based and target-oriented approach and further improve the evaluation system and highlight the evaluation system of net profit and total profit as well as operating profit margin, asset-liability ratio, R&D input and overall labour productivity.

To this end, central SOEs shall do a good job in the eight primary tasks in 2021. First, central SOEs shall maximize it strengths to build a new development pattern, focus on domestic circulation, expand effective investment and play a leading role in their industries, to improve their self-control ability in both industrial chain and supply chain, promote efficient coordination between upstream and downstream production, supply and marketing, and proactively adapt to and create market demands. On top of that, central SOEs shall boost dual circulation, strengthen international cooperation on production capacity, improve overseas investment layout and firmly further opening-up. Second, central SOEs shall vigorously advance technological innovation, strengthen their awareness of technological innovation subjects and improve the mix of R&D spending. Besides, central SOEs shall work hard to ensure breakthroughs in core technologies, improve their capacity in technological innovation and advance the building of the mechanisms for technological innovation incentive, in a bid to inspire the creativity and potential of the researchers. Third, central SOEs shall ensure the three-year reform action of SOEs and strengthen their responsibilities of reform subjects. Meanwhile, central SOEs shall focus on primary tasks, do more to stimulate vitality and highlight innovation at the primary level, and incorporate the performance of the three-year action into the performance evaluation. By doing so, central SOEs can ensure substantial breakthroughs and progress in key fields and core links. Fourth, central SOEs shall work to improve our efficiency and seek growth by upgrading market, management and quality, speed up the building of a modern management system and adapt to the new demands of domestic consumption to improve industrial value. Fifth, central SOEs shall speed up the improvement of state capital distribution and adjustment of industrial structure, further highlight their main business and ensure the separation of non-core business, non-advantageous business, invalid asset and low-productive asset. In addition, central SOEs shall steadily advance strategic restructuring and professional integration, improve the quality of listed companies, coordinate the development of traditional industries and emerging strategic industries and achieve digital and smart upgrading. Sixth, central SOEs shall guard against and defuse risks of various types and strengthen the management of financial service and stick to main business, to ensure no bond default or evasion of debt. In the meantime, central SOEs shall strengthen the management of equity participation and share-holding enterprises and ensure no major risks. Seventh, central SOEs shall further improve the efficiency of state capital regulation, redouble our efforts for state capital regulation and integrate capital management and Party building to better increase the value of state assets and prevent the loss of state assets. Eighth, central SOEs shall take the initiative to serve and support major national strategies, proactively coordinate regional development and follow the arrangement of national macro regulation. In addition, central SOEs shall maintain the market order, perform social responsibility, actively promote the transformation of production mode into green development, actively participate in Carbon Emission Peak and Carbon Neutral and play a role of model.

It was noted that central SOE shall fully implement the general principles of Party building and the path of Party in the new era. It was emphasized that central SOEs shall work hard for the Year of Party Building Innovation of the Central State-owned Enterprises on the occasion of the 100th anniversary of the founding of the CPC and the 5th anniversary of Party Building Meeting of National State-owned Enterprises. On top of that, it pointed out at the meeting that central SOEs shall expand our efforts of Party building into the primary level, the new businesses and fields of state capital, in a bid to guide quality development of central SOEs. In the meeting, plans were also made for the epidemic containment as well as work safety at the turn of 2021.

Weng Jieming, Deputy Director and Party Committee Member of SASAC, presided over the seminar and summarized main points. This meeting was attended by the Party Committee members of SASAC, senior leaders and officials at the deputy ministerial level, Deputy Secretary-General of SASAC, and leaders and outside director conveners of the central SOEs. At invitation, relevant officials from the National Supervisory Commission under the CPC Central Commission for Discipline Inspection, Organization Department of the CPC Central Committee, State Commission Office for Public Sector Reform and National Audit Office attended the meeting. In addition, leaders of SASAC Discipline Inspection and Supervision Team, departments and bureaus under SASAC as well as directly-managed institutions were present at the meeting as nonvoting delegates.

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