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SOE reform never far from Premier’s mind

Updated: Sep 16,2015 9:58 AM

March 13, 2014: At a press conference after the closing ceremony of the second session of the 12th National People’s Congress.

China will expand the reform of State-owned enterprises, especially in the consumption sector, including the medical and endowment sectors.

Jan 26, 2015: At a meeting with experts and entrepreneurs

The reform of State-owned enterprises should be focused on increasing vitality and competitiveness, the Premier said at the meeting. Enterprises also should start work on selected fields, and try to stay ahead of the innovation development and upgrade development.

March 4, 2015: At a meeting of economic and agriculture representatives at the third session of the 12th Chinese People’s Political Consultative Conference (CPPCC)

Premier Li said that China will continue reform, grasp key points such as streamlining the administration and delegating power, and State-owned enterprises and assets.

March 5, 2015: Delivering a government work report

We will expand the reform of State-owned enterprises (SOEs) and state capital.

We will push forward with targeted reform of SOEs on the basis of having clearly defined functions. We will move more swiftly in carrying out trials on establishing state capital investment companies and operating companies, create a market-based platform for state capital operations, and improve their performance.

We will take systematic steps to implement the reform of introducing mixed ownership to SOEs, and both encourage and regulate equity investment made by non-state capital in SOE investment projects. We will accelerate structural reform of the electricity, oil, and natural gas industries. We will work, through multiple channels, to relieve SOEs of their obligation to operate social programs and help them solve longstanding problems, while at the same time ensuring that the legitimate rights and interests of workers are protected. We will ensure that SOEs improve their modern corporate structure, and that incentive and restraint mechanisms for their executives are reformed and strengthened. We will strengthen regulation of State-owned assets and guard against their loss, and ensure that SOEs improve their performance.

March 25, 2015: State Council Executive Meeting

The State Council Executive Meeting presided over by Premier Li Keqiang on March 25 decided to expand reforms in enterprises owned by the State or invested with State-owned capital, accelerate pilot programs of companies with investments from State-owned capital, give full play to the market mechanism, promote cooperation of excellent enterprises, optimize the allocation of resources and effectively solve problems such as overlapping construction and excessive competition.

April 10, 2015: At a meeting attended by leading officials from Jilin, Liaoning and Heilongjiang provinces

Local governments should offer preferential policies to encourage innovation and entrepreneurship and promote pilot systemic reforms in major State-owned enterprises and support the growth of micro, small and medium-sized firms, including private enterprises

September 2015: Inspection tour of Dalian

The reform of State-owned enterprises should be combined with entrepreneurship and innovation, the Premier said. As China is pushing forward the Made-in-China 2025 strategy, equipment manufacturers should take the opportunity to transform themselves by boosting intelligent manufacturing and improving their core competitiveness.