Wuhu Launched the Implementation of the Three-year Action Plan for SOE Reform

The Implementation of the Three-year Action Plan for SOE Reform in Wuhu (2020-2022) was officially issued recently, which provided policy guidance for further improving the performance of state capital and state-owned enterprises (SOEs ).

The implementation plan includes 8 parts and outlines 36 measures for SOE reform, mainly aiming at improving the modern corporate structure of SOEs with Chinese characteristics, stepping up improved distribution and structural adjustment in the state-owned sector, intensifying mixed ownership reform, establishing sound market-oriented operating mechanisms and the system of state assets regulation focusing on capital management, comprehensively strengthening the Party’s leadership and Party building in SOEs. In addition, the plan stresses the importance of organizational leadership of SOE reform, pressing forward with implementation, performance assessment, etc.

According to an official in charge of State-owned Assets Supervision and Administration Commission of Wuhu Municipal People’s Government, since 2020, we have actively implemented the key tasks of the three-year action plan for SOE reform, and explored the establishment of a mixed ownership reform fund for SOEs to accelerate the reform. We have encouraged SOEs in the city to actively participate in industrial investment and promoted the injection of state-owned capital in major industries and key sectors related to people’s livelihood. We have also accelerated the standardization of the board of directors of enterprises in the city and supported the restructuring and listing of enterprises.

In addition, efforts should be made to improve the system of state assets regulation focusing on capital management and accelerate the reform of the authorized management system of state-owned capital at the municipal level. We have encouraged municipal SOEs to actively carry out pilot reform of employee stock ownership, and supported qualified enterprises to provide various medium and long-term incentives, improving the quality and efficiency of state capital and SOEs. According to statistics, as of June 30th this year, the total assets and net assets of enterprises supervised by State-owned Assets Supervision and Administration Commission of Wuhu Municipal People’s Government reached 249.4 billion yuan and 105.6 billion yuan, up 8.49% and 10.29% year on year respectively.

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