In 2024, how should state-owned central enterprises do in the big year of state-owned enterprise reform?

Introduction

On the morning of January 24, the Information Office of the State Council held a press conference, attended by relevant leaders of the State-owned Assets Supervision and Administration Commission of the State Council, and made an outlook on the key work in 2024.

In 2024, state-owned assets and state-owned enterprises will adhere to the general tone of seeking progress while maintaining stability, firmly grasp the hard truth of adhering to the new era of high-quality development, deeply implement the deepening and upgrading of the reform of state-owned enterprises, strive to improve the innovation ability and value creation ability of central enterprises, further promote the optimization of the layout and structural adjustment of the state-owned economy, accelerate the construction of a modern industrial system, and give better play to scientific and technological innovation, industrial control, The role of security support will continue to promote the effective improvement of the quality and reasonable growth of the economy, and make new contributions to the construction of a strong country and the great cause of national rejuvenation in an all-round way with Chinese-style modernization.

There was no detailed introduction to the key work in 2024 at the press conference, but on January 26, the front page of the "Study Times" published an article signed by the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council "Create a New Situation of High-quality Development of State-owned Central Enterprises with New Responsibilities and New Actions", which made specific arrangements for the work of state-owned central enterprises in 2024.

The article points out that we should focus on better undertaking the functional mission and resolutely and effectively serve the overall situation of Chinese-style modernization, focus on improving the quality and efficiency of enterprises, and make every effort to promote the sustained recovery of the mainland economy, focus on promoting industrial innovation with scientific and technological innovation, accelerate the development of new quality productive forces, and promote new industrialization, focus on deepening the reform of state-owned assets and state-owned enterprises, and accelerate the construction of modern new state-owned enterprises, focus on adhering to and strengthening the party's overall leadership, and ensure the high-quality development of enterprises with high-quality party building.

1. Focus on deepening the reform of state-owned assets and state-owned enterprises, and accelerate the construction of modern new state-owned enterprises

2024 is a big year for reform, which is not only a key year for the deepening and upgrading of the reform of state-owned enterprises, but also the year of the 14th Five-Year Plan, and the first year of the implementation of the new company law. Therefore, we will certainly intensify the reform of state-owned enterprises.

The Central Economic Work Conference put forward clear requirements for the in-depth implementation of the deepening and upgrading of the reform of state-owned enterprises in 2024, and state-owned central enterprises should make overall arrangements for progress, do a good job in promoting implementation, and strive for breakthroughs in key and difficult tasks.

The new round of state-owned enterprise reform has distinctive characteristics of the times, and from the perspective of reform tasks, there are mainly two categories, one is the reform task of system and mechanism, and the other is the task of functional reform.

(1) The task of institutional reform

The task of reforming the system and mechanism is the task of reforming and restructuring traditional state-owned enterprises. In 2024, it is necessary to consolidate and deepen the institutional and institutional reform, which is an important part of the deepening and upgrading of the reform of state-owned enterprises, and an important way to stimulate the vitality of endogenous power and improve the core competitiveness of enterprises.

In the three-year action of the old state-owned enterprise reform, the reform of the system and mechanism is the key reform content. Consolidate the achievements of the previous round of three-year reform actions, focus on solving the problem of "from tangible to spiritual", and promote enterprises to truly operate according to the market-oriented mechanism. It is necessary to further improve corporate governance, strengthen the standardized operation of the board of directors, and strengthen the rigid fulfillment of the tenure system and contractual management of managerial members.

(2) Functional reform tasks

Functional reform is a reform oriented to better serve the national strategy. Focusing on the mission and responsibility of state-owned enterprises in the new era and new journey, we will promote enterprises to continuously enhance their core functions and improve their core competitiveness, aiming to promote state-owned enterprises to give full play to the role of scientific and technological innovation, industrial control and security support in building a modern industrial system and a new development pattern.

Therefore, functional reform used to be the work content of the operation and development of state-owned enterprises, but in order to deeply integrate the reform with business development, the SASAC has carried out integrated management of the two and included them in the scope of reform. Promote the high-quality development of state-owned enterprises through reform, enhance the core functions of state-owned enterprises, and enhance their core competitiveness.

In 2023, the State-owned Assets Supervision and Administration Commission of the State Council revised the business performance assessment measures for the heads of central enterprises, and also formulated special differentiated assessment methods for enterprises such as scientific research and design, heavy equipment manufacturing, and grain reserves. A series of targeted and powerful support policies have also been introduced for enterprises to strengthen scientific and technological research and achievement transformation, and to develop strategic emerging industries.

It can be expected that for enterprises of different types and functions, in order to achieve high-quality development and functional reform tasks, in 2024, the SASAC will further increase its efforts to highlight differentiation in terms of business performance assessment and policy support.

In addition, the SASAC has also drawn out three key areas for deepening the reform of state-owned assets and state-owned enterprises in 2024, focusing on three aspects: optimizing resource allocation and deepening reform, improving institutional mechanisms and deepening reforms, and improving institutional guarantees to deepen reforms, so as to achieve breakthroughs.

2. Deepen reform around optimizing resource allocation

The State-owned Assets Supervision and Administration Commission (SASAC) requires that it focus on serving major national strategies, and further promote the concentration of state-owned capital in important industries and key areas related to national security and the lifeline of the national economy, public services, emergency response capabilities, and public welfare fields related to the national economy and people's livelihood, and forward-looking strategic emerging industries.

In the work, we should implement strategic reorganization and professional integration, steadily implement strategic reorganization, and accelerate professional integration in the fields of new energy, mineral resources, and backbone pipe networks. We should give full play to the functional role of state-owned capital operating companies, tap high-quality enterprises with great potential and good growth in strategic emerging industries, invest in the layout as soon as possible, and create a professional scientific and technological innovation incubation platform.

Therefore, a new mission has been put forward for the state-owned capital operation company. In the field of strategic emerging industries, it is necessary to build a professional scientific and technological innovation incubation platform, increase investment in early angel rounds and seed rounds, and promote the rapid development of enterprises with potential and good growth in strategic emerging industries.

Optimize the investment in the state-owned capital operating budget, increase support for central enterprises to develop strategic emerging industries, future industries and breakthroughs in key core technologies, increase the layout of new industries and new tracks, promote the transformation of traditional industries to strengthen the foundation, and improve the resilience and safety of the industrial chain.

3. Deepen reform around improving systems and mechanisms

Improve the modern corporate governance of state-owned enterprises with Chinese characteristics, classify and dynamically optimize the "list of pre-requisites" of party committees (party groups) in a hierarchical and categorical manner, promote the construction of a scientific, rational and efficient board of directors, and improve the level of scientific and standardized decision-making of the board of directors.

Improve the market-oriented operation mechanism, focus on promoting the tenure system and contract management to improve the quality and expand the scope, build a precise, efficient, standardized and orderly income distribution mechanism, and promote the scientific and effective implementation of medium and long-term incentives.

Fourth, deepen reform around improving institutional safeguards

Give full play to the role of the State Council's coordination mechanism for deepening and upgrading the reform of state-owned enterprises, and promote the implementation of major reform measures.

Further clarify the regulatory rights and responsibilities of investors, improve supervision methods, promote centralized and unified supervision of operational state-owned assets, and better give full play to the advantages of professional, systematic, law-based and efficient supervision.

Further optimize the assessment system, implement the assessment of "one enterprise, one policy" and "one industry, one policy", and enhance the accuracy, scientificity and consistency of policy supply.

Improve the supervision system of investors, improve the working mechanism for accountability for violations, improve the efficiency of supervision, maintain the safety of state-owned assets, and create a good environment for the reform and development of enterprises.