The cumulative net profit of central enterprises increased by 6.9%

On September 18, the SASASAC of the State Council held a media briefing on "deepening reform, adding vitality, striving for a new era". According to the latest data, from January to August this year, the central enterprises maintained a steady and progressive good situation, realizing a cumulative business income of 19.4 trillion yuan, an increase of 5.4%, a cumulative net profit of 94.31 billion yuan, an increase of 6.9%, and a completion of fixed assets investment of 1.4 trillion yuan, an increase of 9.8%. Over the past 70 years since the founding of the People's Republic of China, the strength and competitiveness of state-owned enterprises have improved significantly, making historic contributions to the promotion of economic and social development, scientific and technological progress, national defense construction and improvement of people's livelihood.

"State-owned enterprises play the role of pillar and pillar, effectively promoting China's economic development." Weng Jieming, deputy director of SASASAC of the State Council, said that from 1949 to 1998, the total industrial output value of state-owned and state-owned holding enterprises increased from 3.68 billion yuan to 3.4 trillion yuan, an increase of 925.9 times. At comparable prices, the annual average growth rate was 14.2%, which was significantly higher than that of the world's industrial growth of 4.1% and that of developing countries by 5.5%. From 1978 to 2018, the total revenue and profits of state-owned enterprises in China increased by 11.9% and 10.3% annually, respectively. In 2018, the total assets of state-owned enterprises (178.7 trillion yuan) and the owner's rights and interests (63.1 trillion yuan) reached 247.1 times and 130 times of 1978, respectively. At the beginning of the founding of New China, the state concentrated financial and material resources and built and developed a large number of state-owned enterprises. State-owned enterprises play an irreplaceable role in the process of gradually establishing an independent and relatively perfect industrial system and national economic system in China. Since the reform and opening up, state-owned enterprises have made a series of breakthroughs in energy, transportation, construction, high-end equipment manufacturing, new materials and other important industries, which has promoted the development and progress of industry technology. Since the eighteen Party's Congress, state owned enterprises have undertaken a large number of leading projects and landmark projects in the implementation of the "one belt and one way" initiative and the service of the state's open development, forming the all-round construction capacity of China bridge, China Road, and China car. A number of important scientific research achievements with advanced world level have been obtained.

State-owned enterprises exemplify their social responsibility. Since the Eighteenth National Congress of the Communist Party of China (CPC), the central enterprises have invested more than 11 billion yuan in non-gratuitous assistance funds in poverty alleviation counties; set up industrial investment funds for poverty-stricken areas of central enterprises; and the central enterprises have completed a cumulative investment of about 1 trillion yuan in Xinjiang, Tibet and Qinghai, with donation funds exceeding 4 billion yuan. Local economic and social development. Over the past 70 years, China's state-owned enterprises have undergone profound changes in their system and mechanism. They have gradually become market-oriented, quality-benefit-oriented modern enterprises, especially since the Eighteenth National Congress of the Communist Party of China. New and significant progress has been made in the reform of state-owned enterprises.

Breakthrough progress has been made in the system construction of modern state-owned enterprises with Chinese characteristics. The function definition and classification of the central enterprise group level and subsidiary enterprises have been completed, and 32 provincial-level enterprises funded by SASAC have completed the function definition and classification. At the level of the central enterprise group and more than 2600 sub-enterprises owned by the whole people, the company restructuring has been completed and a historic breakthrough has been achieved. Eighty-three central enterprises have established board of directors with the majority of external directors. The proportion of board of Directors established by second-and third-level enterprises affiliated to central enterprises has reached 76%. The proportion of board of Directors established by first-level enterprises funded by provincial SASAC has reached 90%. The pilot project of implementing the functions and powers of board of directors at the level of five central enterprise groups has been steadily promoted.

Flexible and efficient market-oriented operation mechanism should be established. Mixed reform has become an important breakthrough in the reform of state-owned enterprises. At present, two-thirds of the central enterprises have introduced various kinds of social capital, more than half of the state-owned capital is concentrated in public listed companies, and the proportion of households of mixed ownership enterprises in provinces, districts and municipalities has reached 49%. Mixed-change enterprises actively promote market-oriented personnel selection and employment, improve incentive and restraint mechanisms, and improve the quality and efficiency of development. From 2013 to 2018, more than 70% of the central enterprises that implemented mixed-change realized profit growth. The pilot project of mixed ownership in important areas has been steadily promoted, with 10 central enterprises and 171 provincial-level enterprises carrying out the pilot project of employee stock ownership in state-owned holding mixed ownership enterprises, playing the role of activating mechanism and retaining talents. The readjustment of the layout and structure of the state-owned economy has achieved remarkable results. Since the Third Plenary Session of the Eighteenth Central Committee of the Communist Party of China, 18 groups of 35 enterprises have been reorganized successively. The central enterprises have been adjusted from 113 to 96. State-owned capital has been continuously concentrated in important industries and key fields related to national security, lifeline of national economy and people's livelihood. It has been in military industry, power grid, petroleum and petrochemical industry, transportation, telecommunications and coal. The proportion of such industries reached 80.1%.

With the sustained efforts of deepening the reform of state-owned enterprises in an all-round way, the effects of vigorous reform, strong driving force and bonus release will be brought into full play.