Promote Economic Restructuring, Empower the Reform of State-owned Enterprises & Assets

Since last year, the state-owned enterprises (SOEs) and assets in Wuhu have shown new impetus by adhering to the new development concept and continuously optimized the economic layout and structure. According to statistics, by the end of the third quarter of 2022, the economic operation of municipal SOEs had made steady progress. The total assets of SOEs at the municipal level reached 266.7 billion yuan, up 3.52% year-on-year, the total operating income achieved 51.507 billion yuan, up 29.21% year-on-year, and the total profit was 2.138 billion yuan.

In 2022, Wuhu continued implementation of the three-year action plan for SOE reform, and 74 reform tasks have been fully completed. Through promoting the restructuring and integration of SOEs, removing systemic and institutional barriers and revitalizing existing funds, we can inject great momentum into the development of SOEs. With the implementation of a new round of reform and reorganization, the number of SOEs in the city has been reduced from 29 to 11. With a series of measures, such as reorganizing construction investment companies, setting up state-owned capital investment companies, the talent development group and the health-care group in Wuhu, we have fully released the vitality of local SOEs and assets.

In order to improve the quality of development, the city has actively optimized the incremental state-owned assets, accelerated the cultivation of emerging industries via municipal platforms, focused on key areas such as new energy vehicles, intelligent equipment, general aviation and new materials, and promoted the implementation of investment projects in Wuhu. From January to November, 2022, the municipal SOEs implemented 18 investment projects with a total investment of 10.554 billion yuan, of which the top ten emerging industries accounted for 84.4%.

The city also encourages municipal SOEs to set up special R&D reserves and formulate their own R&D reserve system. By the end of the third quarter of last year, the total investment in R&D of municipal SOEs reached 2.02 billion yuan, a year-on-year increase of 65.54%.

Translated by Wang Mengxiao from Foreign Affairs Office of Wuhu Municipal People’s Government