Three year action plan of SOE reform will launch mixed reform

The three-year action plan for the reform of state-owned enterprises in the direction of market-oriented reform of state-owned enterprises will be launched, which means that the reform of state-owned enterprises has entered a critical historical stage, and the reform objectives, timetable and roadmap will be clearly put forward. According to the analysis of experts in the industry, it is expected that the three-year action plan for the reform of state-owned enterprises will be studied and formulated from now until the two sessions next year, and it is expected to be announced in the first half of next year. The first financial reporter learned that a number of state-owned enterprises and state-owned enterprises are also making their own reform plans and action plans to comprehensively enhance the competitiveness, innovation, control, influence and anti risk ability of the state-owned economy, and promote the reform of state-owned enterprises to develop in depth.

On November 12, Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council and leader of the state owned enterprise reform leading group of the State Council, presided over the third meeting of the state owned enterprise reform leading group of the State Council. According to the meeting, the next three years will be the key historical stage. We should implement the top-level design of SOE reform, study and formulate the three-year action plan of SOE reform, and clearly put forward the reform objectives, timetable and roadmap. Li Jin, chief researcher of China Enterprise Research Institute, told the first finance and economics reporter that this means that the reform of state-owned enterprises has entered a critical historical stage. This three-year action plan with the direction of market-oriented reform of state-owned enterprises is about to be launched.

The goal, timetable and roadmap of the reform of state-owned enterprises in the new three years are the "action program" of the reform of state-owned enterprises, which is worth looking forward to. The first financial reporter learned that the new three-year action plan for the reform of state-owned enterprises will review and summarize the four years since the introduction of the top-level design for the reform of state-owned enterprises, and promote the reform of mixed ownership, strengthen the supervision of state-owned enterprises with state-owned assets, enhance the ability of research and development innovation, strengthen financial hard constraints, cut and regulate subsidies, improve incentive mechanism, and improve labor production Key areas and key links such as rate of return and capital return, put forward clear tasks and measures, and formulate quantitative and assessable specific indicators. The above meeting emphasized that the Fourth Plenary Session of the 19th Central Committee of the Communist Party of China made a major strategic plan for adhering to and improving the socialist system with Chinese characteristics, promoting the modernization of the national governance system and governance capacity, optimizing the government's responsibilities, promoting layout optimization and structural adjustment, improving the distribution system, promoting fair competition, effectively preventing risks, encouraging scientific and technological innovation, and actively participating in international competition The reform of state-owned enterprises is clearly required in the aspects of competition, strengthening human capital and properly solving the problems left over by history.

Now that the major policies have been set, the key is to implement them. In the past few years, guided by the top-level design, a 1 + n policy document system has been formed under the guidance of the guiding opinions on deepening the reform of state owned enterprises and supported by supporting documents, providing a system and policy for the reform of state-owned enterprises, said Zhou Lisa, a researcher at the research center of the state owned assets supervision and Administration Commission of the State Council, in an interview with the first financial reporter Policy basis. According to Zhou Lisa, the top-level design is now relatively complete. In the next three years, the more important task is to implement it. At present, the reform of state-owned enterprises is from "four pilots" to "ten pilots", from single reform initiatives to comprehensive reform of "double hundred action" enterprises, regional comprehensive reform of state-owned enterprises, cultivation of world-class competitive enterprises, and reform of state-owned enterprises The leather has been spread from point to surface. Moreover, it emphasizes the implementation of the reform measures of state-owned enterprises. According to Li Jin's analysis, the important problems in the current reform of state-owned enterprises are still that the objectives are not specific, the time is not clear, the route is not clear, and the specific indicators cannot be quantified and assessed. Three years later, 2022 is the 20th National Congress of the Communist Party of China.

Before that, the state-owned economy is very important to adhere to and improve the socialist system with Chinese characteristics, promote the modernization of the national governance system and governance capacity, and there should be obvious progress. The meeting left room for the results in the next three years. The results are still "key areas and key links". It is not to say that we have won all-round victory or implemented all-round, and that we have not done our best in one battle. This is based on the arduousness, long-term nature and complexity of the reform of state-owned enterprises. From the information disclosed at the meeting, in the key areas and key links of SOE reform, promoting mixed ownership reform is still the first. The operational guidelines for the reform of mixed ownership of central enterprises (hereinafter referred to as the operational guidelines) released on the website of the state owned assets supervision and Administration Commission (SASAC) on the evening of August 8 clarified the basic operational procedures for the reform of mixed ownership of central enterprises, "mixed capital" and "reform mechanism" related operational points.

On November 11, SASAC issued the notice on further improving the equity incentive work of listed companies controlled by central enterprises. The basic operation procedures and key points of the central enterprise mixed reform and the equity incentive of the listed companies of the central enterprise are more detailed. According to Huang Qunhui, director of the Institute of economics, Chinese Academy of Social Sciences, the operation guide eliminates many "fuzzy areas" in the practice of mixed reform in the past, making enterprises dare to change and know how to do so, which is expected to play an "accelerator" role in mixed reform. The promulgation of the operation guide provides a systematic operation guide for the central enterprises to carry out the mixed reform, which is conducive to the central enterprises to standardize the work process of the mixed reform, deepen the connotation of the mixed reform, promote the "reform mechanism" with "mixed capital", and effectively improve the competitiveness, innovation, control, influence and anti risk ability of the central enterprises. According to the data disclosed by the SASAC, more than 3700 mixed reforms have been implemented by central enterprises, with the introduction of non-public capital of more than 1 trillion yuan, and the proportion of mixed ownership enterprises accounts for more than 70%, nearly 20 percentage points higher than the end of 2012; 65% of the total assets of central enterprises have entered the listed companies, with 61% of business income and 88% of total profits coming from the listed companies.

At the same time, there are still some problems, such as being afraid to mix, unwilling to mix, mixing for the sake of mixing, mixing for the first time, focusing on mixing rather than changing, reflecting some enterprises' unclear understanding of the purpose and significance of the mixed reform, unclear mixed reform objectives and paths, lack of top-level design and strategic considerations, and fear of the risk of state-owned assets loss in the process of mixing. According to Zhou Lisa, the operation guide has detailed the specific measures for the implementation of mixed reform and is highly operable. The guideline emphasizes that the reform of mixed ownership includes the "mixed" part and the "modified" part. "mixing" is only the first step, "change" is the key. The operation guideline clearly defines the main contents of transforming the enterprise operation mechanism, including improving the corporate governance structure and management and control mode, deepening the three system reforms, flexibly using a variety of incentive and restraint mechanisms and strengthening the construction of the party, etc., and explains in detail the key contents, relevant regulations and guiding principles of relevant work. Zhelia stressed that mixed reform is only one of the ways of reform, and can't be "mixed" or "mixed".

The mixed reform is not "for the sake of mixing". In the enterprise, there is no systematic demonstration and Research on the mixed ownership reform, lack of comprehensive and systematic analysis on the industry, field and overall development strategy of the enterprise, and lack of research on the necessity of specific reform projects, the mixed reform will not achieve good results. In the mixed ownership reform, we should find and solve problems, create a loose environment for such reform and exploration, and make all kinds of ownership enterprises develop together and jointly through the mixed ownership reform. In the key areas and key links of SOE reform defined in the conference, the "strengthening SOE supervision" is the next step after the mixed reform. Speeding up the reform of state-owned assets supervision system from "managing enterprises" to "managing capital" has become an important starting point for the new breakthrough in the reform and development of state-owned assets. According to the authorization of the State Council, the state owned assets supervision and Administration Commission of the State Council performs the responsibilities of investors.

At present, it is speeding up the transformation from "managing enterprises" to "managing capital". The core idea is that under the principle of centralized and unified supervision of state-owned assets, the investors should be responsible for the capital invested, mainly focusing on the layout of state-owned capital, the operation of state-owned capital and the income of state-owned capital. At the same time, as a regulatory department, investors must prevent the loss of state-owned assets. According to Zhou Lisa, to reform the authorized management system of state-owned capital, on the one hand, we should give full play to the decentralization, actively promote the decentralization and authorization, scientifically define the rights and responsibilities of the government, the institutions performing the responsibilities of the investors, the central enterprises and the invested enterprises according to the principles of separation of government and enterprise, separation of government and capital, separation of ownership and management rights, and implement the property rights and management autonomy of the enterprise legal person in accordance with the law Sovereignty will further stimulate the development vitality of state-owned enterprises and inject new impetus into the strengthening, optimization and expansion of state-owned capital.

On the other hand, it is necessary to manage the state-owned assets well, promote the function of state-owned assets supervision institutions to focus on capital management, further improve the pertinence and effectiveness of supervision, improve the efficiency and effect of capital management, accurately grasp the position of investors, and ensure the decision-making power of investors to participate in major issues while delegating authority. " Said Lisa Zhou. This year, great breakthroughs have been made in the reform of the authorized management system of state-owned capital. On April 28, the State Council issued the plan for the reform of the authorized management system of state-owned capital, which clearly defined the way in which SASAC, the Ministry of Finance and other departments and institutions perform their duties as representative organizations of investors, strengthened the construction of the ability of enterprises to exercise their rights, and realized the integration of authorization and supervision, and the integration of relaxation and management. On June 3, SASAC of the State Council issued the notice on printing and distributing the list of authorization and decentralization of SASAC of the State Council (2019 version) & gt; to all central enterprises and local SASAC.

SASAC mainly selected 5 categories and 35 items of authorization and decentralization to be listed in the list. According to the relevant person in charge of the SASAC, compared with the previous work, the main highlights of the list of authorization and decentralization introduced this year can be summarized as "three more": first, it is more clear about the relevant conditions and procedures to ensure the implementation of the authorization and decentralization; second, it is more focused on the key concerns of enterprises to ensure that the authorization and decentralization stimulate vitality; third, it is more intensive in the classification of authorization to ensure the accuracy of authorization and decentralization In place. According to Zhou Lisa, in order to realize the transformation of the function of capital management, constantly optimize the supervision mode and make more use of the rule of law and market-oriented supervision mode. In addition to the normal supervision, we should also pay attention to the establishment of the online supervision system of state-owned assets and state-owned enterprises from the horizontal to the side and from the vertical to the bottom, so as to realize the comprehensive supervision of the whole operation of the central enterprises not only at the group level but also at the level of subsidiaries at all levels, and improve the intelligence of the supervision mode through informatization.