Xi Jinping: Just being strong, strong and strong, doing big and big state-owned enterprises

Abstract With the gradual completion of the top-level design documents, the top-level design phase of SOE reform is over, the construction design phase will begin, and a turning point will emerge. On July 4th, the national state-owned enterprise reform symposium was held in Beijing, and Xi Jinping, general secretary of the CPC Central Committee, made important instructions. ...
With the gradual completion of the top-level design documents, the top-level design phase of the state-owned enterprise reform is over, the construction design phase will begin, and a turning point will emerge.
On July 4th, the national state-owned enterprise reform symposium was held in Beijing, and Xi Jinping, general secretary of the CPC Central Committee, made important instructions.
Xi Jinping pointed out that state-owned enterprises are an important force for strengthening the comprehensive strength of the country and safeguarding the common interests of the people. They must be confident and strong, be better and stronger, and continuously enhance their vitality, influence, and risk resistance, and realize the preservation and appreciation of state-owned assets.
Xi Jinping pointed out that it is necessary to unswervingly deepen the reform of state-owned enterprises, focus on innovating institutional mechanisms, speed up the establishment of a modern enterprise system, and bring into play the enthusiasm, initiative, and creativity of all kinds of talents in state-owned enterprises, and stimulate the vitality of various factors. In accordance with the requirements of innovation, coordination, green, open, and shared development concepts, we must promote structural adjustment, innovation and development, and layout optimization, so that state-owned enterprises can play a leading role in the supply-side structural reform.
Xi Jinping also emphasized strengthening and improving the party's leadership over state-owned enterprises and preventing the loss of state-owned assets, and demanded that new achievements be made in important areas and key links of state-owned enterprise reform as soon as possible.
Premier Li Keqiang pointed out that the reform of state-owned enterprises should actively promote the establishment of a modern enterprise system and a sound corporate governance structure, follow the market rules, improve physical fitness and efficiency, and eliminate excess backward production capacity to promote supply-side structural reform.
Li Keqiang believes that the reform of state-owned enterprises should seize the opportunities of the world's new scientific and technological revolution and industrial transformation, implement the innovation-driven development strategy, actively develop the new economy, rely on "Internet +" and mass entrepreneurship, innovation, and promote entrepreneurship and craftsmanship. Innovate technologies, products and services, improve the core competitiveness of the main business, and promote the transformation and upgrading of traditional industries. He also called for the reform of state-owned enterprises to promote the "introduction" and "going out" more and more effectively. It is necessary to actively create a good environment for the reform of state-owned enterprises.
According to Li Jin, a researcher at the China Enterprise Research Institute, with the gradual completion of the top-level design documents, the top-level design phase of the state-owned enterprise reform is over, the construction design phase will begin, and a turning point will emerge.
Li Jin believes that Xi Jinping's important instructions are all related to the fundamental issues in the reform. He also stresses the key issues of the incentive mechanism and the vitality of reform in the reform of state-owned enterprises. It can be seen as his concentrated expression of the reform of state-owned enterprises. Li Jin believes that the term "justifiable and strong" is very important. At present, there are some misunderstandings about the reform of state-owned enterprises. The outside world also has different views on the status of state-owned enterprises. This formulation can actually enhance the confidence of state-owned enterprises in reform.
Recently, Xiao Yaqing, director of the State-owned Assets Supervision and Administration Commission, introduced the reform of state-owned assets to the 21st meeting of the Standing Committee of the 12th National People's Congress. He said that 13 special reform opinions or plans have been formulated and nine documents are being implemented. Relevant supporting documents will be completed soon.
Xiao Yaqing also said that the next step is to strengthen the supervision of state-owned assets with the management of capital, improve the scientific and effective supervision, study and formulate the list of supervisors' powers and responsibilities, accelerate the reform of equity diversification, improve the corporate governance structure, and optimize the state-owned Capital investment, promote restructuring and integration. Create a group of multinational companies with strong competitiveness.
However, Xiao Yaqing also pointed out that the current problems of government and enterprises, regardless of the status of government and capital still exist. The problem of long-term management and unclear responsibilities of operating state-owned assets, and the rights of state-owned asset investors have not been put in place. In addition, the transformation from the management of the company to the management of the capital is still not in place. The state-owned assets supervision institutions at all levels still have too many problems, and the phenomenon of indirect supervision and approval of investors, and the number of examination and approval matters are different. The supervision mechanism is still not perfect, and the problem of the loss of state-owned assets and violation of laws and regulations is still prominent in some fields and enterprises.
In the current supply-side structural reform focused on the capacity of state-owned enterprises, Xu Shaoshi, director of the National Development and Reform Commission, said in this summer's Davos that the NDRC has communicated with 30 provinces, municipalities and autonomous regions and large state-owned enterprises, and is currently in a strong order. Advance and confident to complete the full year goal.
According to public data, as of the end of 2015, the total assets of state-owned enterprises nationwide were 119.2 trillion yuan and the owner's equity was 40.1 trillion yuan, 1.5 times and 1.4 times respectively in 2012. Among them, the total assets of central enterprises were 47.6 trillion yuan, and the owners. The equity was 15.9 trillion yuan, 1.3 times that of 2012.

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