[imtoken官网通用钱包]owned Assets Supervision and Administration

Third, providing full support for poverty alleviation toward the goal of common prosperity. Making full use of their advantageous resources and expertise, central SOEs have promoted infrastructure construction in impoverished areas in big strides by building roads and bridges and providing internet access and electricity. Carrying out anti-poverty programs through promoting consumption, industrial development, and job creation, SASAC and central SOEs have cumulatively invested and introduced more than 100 billion yuan of funds from various sources, and assigned 37,000 officials to poor areas for poverty alleviation. The 248 key counties which included in the national plan for poverty alleviation and received pair-up assistance from central SOEs have all got rid of poverty. Even though those counties are lifted out of poverty, the anti-poverty responsibilities, policies, aid and supervision should be continued. SASAC and central SOEs have continued to promote rural vitalization, brought the much-needed capital, launch aid projects, and assign officials, supporting those areas in a wide range of aspects, covering industry, employment, consumption, education, and medical care. Committed to increasing people’s well-being in a sustained way, they conscientiously follow the nation’s macro regulation and arrangements. Central SOEs work hard to ensure the supply of vital necessities concerning the lifeline of the national economy and people’s livelihood such as coal, electricity, petroleum, and natural gas and keep their prices stable, step up the operation and management of communication, railway, aviation and other basic networks, and advance the new round of rural grid renovation and upgrade and the program to bring three-phase power to every village, creating better production and living conditions for the people.

First, continuously strengthening the Party building work system, especially at the primary-level. The responsibility for Party building should be assigned to specific persons and translated into concrete actions at every level. SASAC rolls out three systems – the Party committees (Party groups) of central SOEs report annually to SASAC Party Committee on their Party building work, the secretaries of the Party committees (Party groups) of central SOEs make in-person reports on their work to SASAC Party Committee, and the secretaries of primary-level Party organizations report on their Party building work and receive appraisal and assessment thereby. SASAC has issued the measures for implementing the system of responsibility for Party building in central SOEs, and conducted assessment for five consecutive years. Through the promotion of standardized Party building work at the primary-level, central SOEs have cumulatively established more than 40,000 new Party organizations and recruited 1,148,000 new Party members since the 18th CPC National Congress. Primary-level Party organizations have been formed “wherever the conditions are right” and new Party committees are elected on schedule.

Guided by General Secretary Xi Jinping’s important instructions on strengthening the supervision and administration of state-owned assets, the Party Committee of SASAC has accelerated the all-round transformation in the concepts, priorities, approaches, and directions of supervision and administration. We have continuously improved the system of state-owned assets supervision and administration and gradually formed a new model with Chinese features in this regard, providing a robust guarantee for safeguarding the security of state-owned assets and exerting the state-owned economy’s strategic supportive role.

Fourth, highlighting green transformation and upgrade of industries to achieve better results in high-quality development. Prioritizing ecological progress and green development, SASAC has implemented the deployments for carbon peaking and carbon neutrality, formulated and acted on the guidelines to promote central SOEs’ high-quality development and their work toward carbon peaking and carbon neutrality. We have urged enterprises engaged in thermal power, petrochemical, chemical industry, iron and steel, nonferrous metals, and building materials and other industries to accelerate their transformation, and resolutely curbed the haphazard development of energy-intensive and high-emission projects. In 2021, the overall energy consumption per 10,000 yuan of turnover of central SOEs dropped by about 33% from 2012. We support and organize relevant central SOEs to undertake national tasks for developing low-carbon, zero-carbon, and negative-carbon technologies, speed up the development of green and low-carbon industries, and drive their transformation and industrial reform with technological breakthroughs.

First, following the new development philosophy in pursuit of high-quality development. SASAC has created an indicator system for high-quality development and pushed central SOEs to transform their development approach faster, so as to scale new heights in their comprehensive strengths and operating performance. From the end of 2012 to the end of 2021, the total assets of central SOEs rose from 31.4 trillion yuan to 75.6 trillion yuan, with an average annual growth of 10.3%, and the number of central SOEs listed among the Fortune Global 500 increased from 43 to 49. Between 2012 and 2021, their total profits increased from 1.3 trillion yuan to 2.4 trillion yuan, net profits from 0.9 trillion yuan to 1.8 trillion yuan, and operating revenue from 22.3 trillion yuan to 36.3 trillion yuan, with an average annual growth of 7.5%, 7.9%, and 5.5% respectively. In 2021, the profit margin of operating revenue was 6.8%, R&D investment intensity was 2.5%, and total labor productivity was 694,000 yuan per capita, up respectively by 1.8 percentage points, 0.8 percentage point, and 82% from 2012. Their debt-to-asset ratio remained well under the control line in general, continuing the decline in recent years. Also in 2021, central SOEs submitted 2.4 trillion yuan of taxation and fees, up by 35.5% from 2012. Ever since 2013, they have cumulatively submitted 18.2 trillion yuan of taxes and fees and 1.3 trillion yuan of state-owned capital gains, and allocated 1.2 trillion yuan of state-owned capital to social security fund. In the past five years, state-owned telecom enterprises have reduced fees by more than 700 billion yuan, and power generation companies have lowered the cost of power use by more than 400 billion yuan.

Fourth, accelerating the centralized and unified supervision and administration of profit-oriented state-owned assets, and putting in place a systematic regulatory structure for state-owned assets. Keeping in mind the big and whole picture, SASAC supervises and administers state-owned assets nationwide in a holistic way, and moves faster to put in place a systematic regulatory structure for state-owned assets. Acting on the principle of separating government functions from enterprise management and separating the government’s function of public administration from its function as the investor of state-owned assets, SASAC has consistently pushed for the centralized and unified supervision and administration of profit-oriented state-owned assets. At present, more than 98% state-owned assets of provincial SASACs are under centralized and unified supervision and administration on average. SASAC issued the Notice on Advancing the Construction of a Systematic Regulatory Structure for State-owned Assets. We have built a unified property right supervision system, a sound financial supervision system, a well-aligned performance assessment and remuneration management system, and a three-tiered state-owned assets planning system. This gives rise to a correlated and effectively coordinated working mechanism among the central, provincial and municipal authorities, forming a systematic synergy to push forward the cause of state-owned assets supervision and administration.