Interpretation! Three-year action of state-owned enterprise reform and deployment： reform will be accelerated again, and state-owned enterprises will undertake classified assessment of public welfare

　　On September 27th, the fourth meeting of the leading group for the reform of state-owned enterprises in the State Council and the national teleconference on the mobilization and deployment of the three-year action for the reform of state-owned enterprises were held. The meeting emphasized that the three-year action for the reform of state-owned enterprises is a concrete construction drawing for implementing the "1+N" policy system and top-level design for the reform of state-owned enterprises in the next three years, which is measurable, assessable, verifiable and necessary.

　　The meeting clearly put forward five requirements for the implementation of the three-year action: first, state-owned enterprises should become market players with core competitiveness and actively and steadily deepen the reform of mixed ownership; Second, in the guidance of innovation, we should smooth the big cycle with hard power and carry out bold and sufficient incentives; The third is to improve the supply chain level of the industrial chain. State-owned enterprises and private enterprises should cooperate with each other to promote mergers and acquisitions and strategic combinations, and central enterprises should resolutely reduce the management level; Fourth, we should play a special role in safeguarding people’s livelihood and coping with major challenges, and establish and improve a subsidy system that conforms to international practice; Fifth, we should play a fundamental role in safeguarding national economic security.

　　According to the analysis, compared with the policy document itself, the statement on the implementation of the reform of state-owned enterprises in this meeting is more positive and more urgent, and the reform of state-owned enterprises in China is expected to be greatly improved. In the course of implementing the three-year reform of state-owned enterprises, China will formulate a more detailed quantitative assessment standard and index system to ensure that the reform is effective.

　　"Measurable, examinable, testable and necessary"

　　On September 27th, the fourth meeting of the leading group for the reform of state-owned enterprises in the State Council and the video and telephone conference on the mobilization and deployment of the three-year national reform of state-owned enterprises were held in Beijing. Liu He, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, Vice Premier the State Council and leader of the State Council State-owned Enterprise Reform Leading Group, attended and spoke at the meeting. Wang Yong, State Councilor and deputy head of the State Council State-owned Enterprise Reform Leading Group, presided over the meeting.

　　The meeting pointed out that the General Secretary of the Supreme Leader attached great importance to the reform of state-owned enterprises and made many important instructions, which must be thoroughly studied and implemented. The three-year action of state-owned enterprise reform is a concrete construction drawing for implementing the "1+N" policy system and top-level design of state-owned enterprise reform in the next three years, which is measurable, assessable, testable and necessary.

　　Doing this work well is of great significance for strengthening and improving the state-owned economy, enhancing the vitality of state-owned enterprises, improving efficiency and accelerating the construction of a new development pattern.

　　Interpretation: Li Jin, a well-known expert in state-owned enterprise policy research and chief researcher of China Enterprise Research Institute, told 21st century business herald that after several years’ efforts, China’s state-owned enterprise reform has established a "1+N" policy system, constructed the top-level design and "four beams and eight pillars" of the reform, and has entered the most critical construction stage, and the three-year action of state-owned enterprise reform to be implemented soon is a "construction drawing".

　　He understands the relevant contents of the three-year action plan. Compared with the policy document itself, the statement on the implementation of state-owned enterprise reform at this meeting is more urgent and has a higher position.

　　It is the first time to make this statement, because some people’s statements about the reform of state-owned enterprises are ambiguous, and some departments implement documents with documents, which leads to idle reform, and it is impossible to make a quantitative assessment of the effectiveness of the reform of state-owned enterprises.

　　Li Jin predicted that in the process of implementing the three-year reform of state-owned enterprises, China will formulate a more detailed quantitative assessment standard and index system to ensure that the reform is effective.

　　In addition, Li Jin pointed out that there was a lot of debate in the society about whether to make state-owned enterprises bigger and stronger or to make state-owned capital bigger and stronger, but this meeting called for "making the state-owned economy bigger and better", trying to determine this direction from a higher level of ownership economy, and putting it in a more prominent position, rather than paying attention to its scale.

　　Innovation determines the fate of state-owned enterprises, and hard power flows smoothly.

　　The meeting demanded that, through the implementation of the three-year action, remarkable achievements should be made in forming a more mature and stereotyped modern enterprise system with China characteristics and a state-owned assets supervision system focusing on managing capital, promoting the layout optimization and structural adjustment of the state-owned economy, and improving the vitality and efficiency of state-owned enterprises.

　　First, state-owned enterprises should become market players with core competitiveness. State-owned enterprises must first play their economic functions, create market value and better serve the party and the people. It is necessary to strengthen the party’s leadership, implement the authority of the board of directors, improve the market-oriented operating mechanism, and actively and steadily deepen the reform of mixed ownership.

　　Interpretation: Li Jin pointed out that for the first time, this meeting regards strengthening core competitiveness as the primary task of state-owned enterprises, which requires the reform of state-owned enterprises to take solid steps in improving the modern enterprise system and corporate governance structure.

　　Regarding the reform of mixed ownership, most of the previous references were "steadily advancing", but this time it is "actively and steadily deepening", which means that the pace of mixed ownership reform may be accelerated, and on the other hand, further exploration may be made in the depth of mixed ownership reform.

　　The meeting pointed out that the second is to play a greater role in innovation leading. Innovation determines fate, and hard power flows smoothly. We should take innovation as a breakthrough, make bold and sufficient incentives, and make greater achievements in tackling key core technologies, introducing high-end talents, and transforming and applying scientific research achievements.

　　Interpretation: Li Jin said that the meeting also put forward higher requirements for the reform of state-owned enterprises in terms of innovation. "Innovation determines fate, and hard power unblocked the big cycle" was put forward for the first time, which put innovation at the height of determining fate and put it in the new pattern of "double cycle", which shows that high-level officials attach importance to it.

　　The meeting clearly demanded that we should be bold and fully motivated to make greater achievements in tackling key core technologies, introducing high-end talents, and transforming and applying scientific research achievements. It is expected that more than expected and more breakthrough measures will be taken in the aspects of institutional incentives, talent introduction and technical tackling of state-owned enterprises.

　　Promote the merger and reorganization and strategic combination of state-owned enterprises and private enterprises

　　The meeting pointed out that the third is to play a leading role in improving the supply chain level of the industrial chain. State-owned enterprises should play a leading role and important influence on the healthy development of private enterprises. According to the concentration requirements of different industries, promote the formation of a better market structure. State-owned enterprises and private enterprises should cooperate with each other to promote mergers and acquisitions and strategic combination. Central enterprises should resolutely reduce the management level and prevent and control all kinds of risks.

　　Interpretation: Li Jin said that the previous mention of mergers and acquisitions mostly refers to mergers and acquisitions between state-owned enterprises, but this time it refers to mergers and acquisitions between state-owned enterprises and private enterprises, which also confirms the expectation that the mixed reform will be further deepened; At the same time, it is also a new idea that state-owned enterprises and private enterprises should cooperate with each other and make strategic combination. Because most state-owned enterprises are located in the upstream, they are the backbone of the economy, while many private enterprises are located in the middle and lower reaches, which are the branches and leaves of the economy. The cooperation and combination of the two is the key to ensure the stability of the industrial chain supply chain, and the latter is also an important content of the "six guarantees".

　　"On the level of central enterprises, efforts are being made to reduce their management level to less than five floors, but frankly speaking, there are still as many as eight or nine floors in many central enterprises."

　　The meeting pointed out that the fourth is to play a special role in safeguarding the people’s livelihood and coping with major challenges. It is necessary to promote state-owned capital to play a greater role in key areas related to the national economy and people’s livelihood, such as providing public services, building emergency response capabilities and public welfare, and make good institutional arrangements. For state-owned enterprises to undertake public welfare business, it is necessary to carry out classified accounting and classified assessment. Establish and improve the subsidy system in line with international practice.

　　Interpretation: Li Jin said that in the COVID-19 epidemic, state-owned enterprises played an important role in coping with emergencies and safeguarding people’s livelihood. From the classification of state-owned enterprises, a considerable number of enterprises are public welfare state-owned enterprises, which bear greater social responsibilities. Therefore, classified accounting and classified assessment that are different from competitive state-owned enterprises should be established.

　　On the issue of state-owned enterprises and subsidies, there are great disputes between China and some countries. China clearly proposed to establish and improve a subsidy system in line with international practice, which is conducive to resolving these differences and promoting international integration.

　　The meeting pointed out that the fifth is to play a fundamental role in safeguarding national economic security. We must persist in making progress and retreating, and do something different, and promote the concentration of state-owned capital in important industries and key areas that are related to national security and the lifeline of the national economy, so that state-owned enterprises can really play a supporting role in resisting macro risks.

　　Interpretation: Li Jin believes that the five aspects put forward in this meeting are all directional guidance from the height of the macro national economy, rather than sticking to policy details, which points out the direction for the three-year reform of state-owned enterprises.

　　"What impressed me most about the meeting was that it was more positive and urgent in many expressions, and it did not evade some core issues. One signal released by this may be that with the implementation of the three-year action plan, the reform of state-owned enterprises is expected to be greatly improved." Li Jin said.