We will deepen reform of state assets and state-owned enterprises

Zhang Yuzhuo, Party Secretary and director of SASAC of The State Council

党的二十届三中全会对We will deepen reform of state assets and state-owned enterprises进一步作出重大部署，这是以习近平同志为核心的党中央着眼于全面推进中国式现代化、实现第二个百年奋斗目标作出的重要战略安排。我们要深入学习领会习近平总书记关于全面深化改革的重要论述，Deeply understand the strategic significance of deepening the reform of state-owned assets and state-owned enterprises，Keep to the right direction of reform，We will fully implement all key tasks，We will push forward the reform of state-owned assets and state-owned enterprises with higher standing and greater efforts，We will better fulfill the new responsibilities and missions of state-owned enterprises，We will make greater contributions to building China into a powerful country in an all-round way and to the great cause of national rejuvenation through Chinese-style modernization。

Deeply understand the strategic significance of deepening the reform of state-owned assets and state-owned enterprises

State-owned enterprises are an important material and political foundation for socialism with Chinese characteristics, an important pillar and force for the Party to govern and rejuvenate the country, and play an irreplaceable and important role in comprehensively advancing the process of Chinese-style modernization。Deepening the reform of state-owned assets and state-owned enterprises is of great significance to consolidating the dominant position of public ownership, giving better play to the strategic supporting role of the state-owned economy, and ensuring the long-term governance of the Party and long-term peace and stability of the country。

It is necessary to better fulfill the functional mission of state-owned enterprises。习近平总书记强调，推进中国式现代化，是一项前无古人的开创性事业。At present, the world is undergoing all-dimensional and deep-seated changes in the past century. The international and domestic situations are complex, and an uncertain and unpredictable external environment has become the norm. China's unbalanced and inadequate development remains a prominent problem。The country prospers when the enterprise prospers, and the country is strong when the enterprise is strong。Most of the state-owned enterprises are in important industries and key areas that are related to national security and the lifeblood of the national economy, and they are an important force in realizing the country's strategic intentions and responding to changes in the external environment and major risks and challenges。By deepening the reform of state-owned assets and state-owned enterprises, we should give priority to improving the strategic functional value of state-owned enterprises, focus on the biggest of the country and focus on the needs of the country, better play the role of scientific and technological innovation, industrial control, and security support, stabilize the overall situation with the certainty of development, respond to the situation, and open new bureaus, and promote the stable and long-term development of the Party and the country。

A key move to effectively enhance the vitality and efficiency of state-owned enterprises。习近平总书记强调，国有企业要搞好就一定要改革，抱残守缺不行，改革能成功，就能变成现代企业。Since the 18th National Congress of the Communist Party of China, the reform and development of state-owned enterprises have made major achievements, some deep-rooted institutional obstacles have been effectively removed, and the total assets of state-owned assets under supervision in the national system has increased from 71 in 2012.4 trillion yuan to 317 in 2023.1 trillion yuan, the total profit from 2012 2.0 trillion yuan growth to 4 in 2023.5 trillion yuan, a significant increase in scale, strength and quality and efficiency。However, we must be sorely aware that some persistent problems affecting the vitality and internal driving force of state-owned enterprises have not been fully resolved, and some enterprises still have problems such as low return on assets, insufficient innovation capacity, and weak value creation ability, which do not meet the requirements of building a high-level socialist market economy。State-owned enterprises are an important part of the national governance system。It is necessary to deepen the reform of state-owned assets and state-owned enterprises, focus on enhancing vitality and improving efficiency, focus on key points, make up for weak points, and strengthen the core competitiveness of modern enterprises, and accelerate the development of new modern state-owned enterprises with new development modes, new corporate governance, new operating mechanisms, and new layout structures。

It is necessary to accelerate the development of new quality productive forces in state-owned enterprises。习近平总书记强调，高质量发展是全面建设社会主义现代化国家的首要任务，发展新质生产力是推动高质量发展的内在要求和重要着力点。At present, a new round of scientific and technological revolution and industrial transformation is developing in depth, and scientific and technological innovation has profoundly reshaped the basic elements of productive forces. New quality productive forces have formed and demonstrated strong driving force and support for high-quality development in practice。In recent years，Solid steps have been taken in the high-quality development of state-owned enterprises，But at the same time, it is faced with the increasing constraints of resources and environment, and the economic growth model under the condition of traditional productivity is becoming more and more difficult to sustain，The dependence of key core technologies on others has not been fundamentally reversed，The future technology and future industrial layout that may have a disruptive impact are still relatively lagging behind。Long-term economic growth depends on the improvement of total factor productivity, and the key to high-quality development of enterprises is to rely on innovation。We will deepen the reform of state-owned assets and state-owned enterprises，We will work hard to eliminate the bottlenecks that hinder the development of new quality productive forces，Continue to strengthen the source of innovation，We will accelerate industrial innovation on the basis of scientific and technological innovation，Transform and upgrade traditional industries，We will foster and strengthen emerging industries，Layout and construction of future industries，Opening up new territory new track，Create new growth drivers and new strengths，Provide strong support for the construction of a modern industrial system。

Firmly grasp the principle of deepening the reform of state-owned assets and state-owned enterprises

贯彻落实党的二十届三中全会对We will deepen reform of state assets and state-owned enterprises作出的重大部署，必须以学习贯彻习近平总书记关于国有企业改革发展和Party building的重要论述精神为统领，把好方向、守正创新，切实做到学思用贯通、知信行统一。

Adhere to the fundamental principle of the Party's overall leadership over state-owned enterprises。We will firmly uphold the authority of the CPC Central Committee and its centralized and unified leadership，The Party's leadership runs through the whole process of deepening the reform of state-owned assets and state-owned enterprises，We will promote the deep integration of party building and production and management in enterprises，We will strengthen the construction of leading groups and cadre personnel in state-owned enterprises，We will actively foster a sound political environment with clean wind and positive atmosphere，We will give full play to the guiding and guaranteeing role of high-quality Party building。

Adhere to the overall goal of making state-owned capital and state-owned enterprises stronger, better and bigger。Adhere to and implement the "two unwavering"，Implement the new development concept in a complete, accurate and comprehensive manner，We will build a new development pattern by focusing on high-quality development and services，We will encourage state-owned enterprises to become bigger and more determined, stronger and better，We will continue to develop and strengthen the state-owned economy，Consolidate the economic foundation of socialism;We will give full play to the leading role of the state-owned economy，We will encourage economic sectors under different forms of ownership to complement each other and develop together。

We will adhere to the reform focus of strengthening core functions and improving core competitiveness。Stand in the overall work of the Party and the country，We will guide state-owned enterprises to strengthen their functions in strategic security, industrial leadership, national economy and people's livelihood, and public services，Focus on the main responsibility and main business development of the real economy，Enhance the capacity for continuous innovation and value creation，Accelerate the transformation to a high-quality, efficient and sustainable development mode，Focus on shaping a unique competitive advantage that can continue to create benefits，Cultivate a number of world-class enterprises with global competitiveness，We will effectively enhance the functional value of state-owned enterprises，To achieve a high level of economic attributes, political attributes, social attributes of the organic unity。

Adhere to the dialectical unity of "let live" and "control"。We will keep government functions separate from enterprises and government assets separate，We will continue to deepen institutional reform，We will fully respect and safeguard the property rights and operational autonomy of enterprises as legal persons，Put it where it needs to be，Make state-owned enterprises full of vitality，Full activation of the potential of innovation and creativity;Adhere to the bottom line to prevent the loss of state-owned assets，Keep the pipe firmly under control，We will fulfill the responsibility of maintaining and increasing the value of state assets，We will improve the system for preventing the loss of state-owned assets，We will improve the system for supervising and managing state-owned assets，We will guide enterprises to operate in accordance with the law，We will modernize the governance of state assets and state-owned enterprises。

We will comprehensively implement the key tasks of deepening the reform of state-owned assets and state-owned enterprises

The key to deepening the reform of state-owned assets and soes is implementation。It is necessary to consciously take deepening the reform of state-owned assets and state-owned enterprises as a major responsibility, effectively link up with the implementation of deepening and upgrading the reform of state-owned enterprises, and implement it with the spirit of nails to ensure the effectiveness of reform。

We will further improve the distribution and restructure of the state-owned economy。We will encourage state-owned capital and soes to become stronger, better and bigger, enhance their core functions, and enhance their core competitiveness。We will improve the management of the main business, formulate and improve the dynamic management of the main business of state-owned enterprises, further clarify the functional positioning of different types of State-owned enterprises, and establish a management mechanism for performing their duties in accordance with the law, classifying supervision, dynamic adjustment, and flexible authorization。We will improve the investment management system for state-owned enterprises, improve the negative list for investment, establish a post-investment evaluation system, and resolutely curb the tendency of some state-owned enterprises to blindly diversify and spread their own projects。We will improve the distribution and restructure of the state-owned economy，We will coordinate the distribution of major productive forces in the state-owned economy，Clarify key investment areas and directions of state capital，We will promote the concentration of state-owned capital in important industries and key areas that are related to national security and the lifeblood of the national economy，Focus on public services, emergency response capabilities, and public welfare areas that have a bearing on the national economy and people's livelihood，Focus on forward-looking strategic emerging industries。We will improve the mechanism for the rational flow of state capital，We will advance strategic restructuring and professional integration in a coordinated manner，We will accelerate the adjustment of the stock structure，Optimal incremental orientation，We will strengthen investment in key core technologies and forward-looking strategic industries，We will increase the effective supply of public services in such areas as medical and health care, health and elderly care, disaster prevention and reduction, and emergency support，We will strengthen the role of important energy resources in supporting the economy，We will maintain the security of industrial and supply chains。We will deepen reform of state-owned capital investment and operation companies，Build a professional platform for state-owned capital investment layout, integrated operation and forward and backward circulation，Effectively exert the industrial investment function of the investment company and the capital operation function of the operating company，We will promote the revitalization of existing assets and the disposal of inefficient and ineffective assets，Focus on long-term capital, patient capital, and strategic capital。We will improve the budget for state capital operations and the performance evaluation system, and strengthen financial guarantees for major national strategic tasks and the basic livelihood of the people。

Further deepen classification reform, classification assessment, classification accounting。We will improve the classified assessment and evaluation system for state-owned enterprises，According to the different functions of the enterprise，Set up more targeted and personalized assessment indicators，We will explore and implement the assessment of "one industry, one policy and one enterprise, one policy.，Fully reflects the great importance of scientific and technological innovation，Fully reflect the national strategic orientation and strategic requirements，Fully embodies the accurate grasp of common quantitative indicators and individual differences。Establish an evaluation system for state-owned enterprises to fulfill their strategic missions, establish a scientific, objective and quantifiable evaluation system for the functional value of state-owned enterprises, and regularly evaluate the performance of state-owned enterprises to fulfill their strategic missions。We will carry out accounting for the added value of the state-owned economy and consolidate the decision-making basis for restructuring the national economy。We will promote market-oriented reforms in the independent operation of natural monopoly links and competitive links in energy, railways, telecommunications, water conservancy, public utilities, and other industries, promote market-oriented allocation of public resources, and improve regulatory systems and mechanisms。

We will improve the institutional arrangements for state-owned enterprises to promote original innovation。Give full play to the advantages of the new national system，We will support the integration of state-owned enterprises into the national innovation system on a larger scale, at a higher level, and at a deeper level，Actively undertake national key research and development plans and major science and technology projects，To lead or participate in national scientific and technological tasks，We will strengthen the integrated allocation of projects, bases, personnel and funds，Promote the concentration of innovation factors in enterprises，Promote state-owned enterprises to truly become an important subject of original technological innovation decision-making, research and development investment, scientific research organization, and achievement transformation。We will establish a diversified funding mechanism, increase the proportion of investment in research and development of original technologies, establish a R&D reserve system for enterprises, and encourage high-risk and high-value basic research。We will strengthen innovation in key generic technologies, cutting-edge leading technologies, modern engineering technologies, and disruptive technologies, and promote the transformation of scientific and technological innovation from tracking to pioneering and leading。Give play to the market demand of state-owned enterprises, integrated innovation, and organizational platform advantages，We will deepen the integration of industries, universities, research institutes and applications，We will improve the mechanism for collaborative innovation cooperation between the upstream and downstream sectors of the industrial chain and between large, small and medium-sized enterprises，Build an upgraded version of the innovation consortium，Promote the whole chain of innovation from basic research to industrial application，Promote a virtuous cycle of scientific and technological innovation and industrial development。Optimize innovation ecology，We will implement a more active, open and effective talent policy，We will flexibly implement various forms of medium - and long-term incentives such as equity dividends，We will accelerate reform to empower scientific and technological achievements，We will accelerate the development of national strategic human resources，Efforts will be made to train strategic scientists, first-class scientific and technological leaders and innovative teams，Efforts will be made to train outstanding engineers, artisans from major countries and highly skilled personnel，We will vigorously promote the spirit of outstanding entrepreneurs and scientists，We will provide adequate inclusive support for scientific and technological innovation activities。

We will improve the management and supervision systems of state-owned assets and soes。We will improve the Party's systems for leading the work of state assets and state-owned enterprises, uphold and strengthen the centralized and unified leadership of the Party Central Committee over the state-owned economy, and strengthen the top-level design, overall coordination, overall promotion, and supervision of the implementation of major strategic plans, important principles and policies, and major decisions and arrangements for the state-owned economy。Strengthen strategic coordination among relevant management departments, strengthen policy coordination and information sharing, minimize administrative interference, and form synergy。We will continue to improve the investor system for operational state-owned assets and the centralized and unified supervision system, build specialized and professional state-owned assets supervision bodies, and further promote professional, systematic, law-based and efficient supervision, so as to strengthen centralized and unified supervision of operational state-owned assets。We will improve modern corporate governance of state-owned enterprises with Chinese characteristics，Improve the system and mechanism to promote state-owned enterprises to strengthen the Party's leadership in improving corporate governance，We will innovate the working mechanism for party building in mixed-ownership enterprises，Improve the quality of board building，We will improve the evaluation, incentive and restraint mechanisms for external directors，We will deepen implementation of the three institutional reforms，We will thoroughly implement the term system and contractual management for members of the management level，We will promote the operation of state-owned enterprises in accordance with the market mechanism。We will improve a more accurate, standardized and efficient income distribution mechanism, deepen the reform of the wage determination mechanism in state-owned enterprises, and rationally determine and strictly regulate the salaries, allowances and subsidies of persons in charge at all levels of State-owned enterprises。With intra-party supervision as the leading role, we will promote coordination between the supervision of investors, discipline inspection, inspection, audit, and social supervision, improve the accountability mechanism for the supervision of state-owned assets, constantly improve the effectiveness of supervision, and resolutely prevent the loss of state-owned assets。