Profits of central enterprises in the first 11 months increased by 9%

"From January to November this year, the central enterprises achieved a year-on-year growth of 9% in net profit, 5% in operating revenue and 9.4% in total investment, providing strong support for the steady growth of the national economy." Hao Peng, Secretary of the Party committee and director of SASAC, said at the meeting of heads of central enterprises held from December 24 to 25. In 2019, the central enterprises adhere to the new development concept, and the quality and efficiency of development have been improved. First of all, it has effectively improved economic benefits by strengthening operation monitoring, vigorously opening up resources and reducing expenditure, and strengthening cooperation. From January to November this year, three petroleum and petrochemical enterprises reduced the operating cost of barrel oil by US $0.6; three telecommunication enterprises' sales expenses decreased by 1 percentage point compared with the same period of last year, strengthening the coordination of 5g construction work; COSCO Shipping built China Europe land sea express line, and the container freight volume increased by 70% compared with the same period of last year. Secondly, we should increase innovation.

In 2019, central enterprises will increase R & D investment in science and technology, with a year-on-year increase of 24.6% from January to November. Thirdly, SASAC strengthened the main business management and control, planning guidance and strategic capital injection, promoted the central enterprises to vigorously carry out strategic restructuring, and further promoted the specialized integration of coal, coal power, marine engineering equipment, etc. Steady progress was made in the reform of central enterprises. In 2019, the reduction was completed ahead of schedule, with a total reduction of more than 14000 legal persons. The task of steel and coal capacity reduction was completed in an all-round way, and the efficiency of state-owned capital allocation was further improved. At the same time, the task of transferring state-owned equity to social security fund has been completed, and 1.1 trillion yuan of state-owned capital has been transferred. Telecommunication enterprises reduce fees and make profits of 400 billion yuan, and electric power enterprises implement national policies to reduce the cost of electricity consumption of the whole society by nearly 100 billion yuan.

In 2019, the central enterprises will promote the standardization and proceduralization of modern enterprise system construction, improve the market-oriented operation mechanism, and stimulate the operation potential. Strengthening and improving the construction of the board of directors, selecting 76 external directors for 40 enterprises, giving full play to the respective roles of the Party committee, the board of directors and the management, and improving the company management efficiency of central enterprises. The central enterprises have formulated detailed rules for the implementation of the total wage management measures, intensified market-oriented reform, and more than 100 holding listed companies and technology-based enterprises have implemented incentives for equity, options and dividends. The operation efficiency of the central enterprises has been improved. The operation guidelines for the reform of mixed ownership of central enterprises were issued. 274 projects of mixed ownership of central enterprises were released. The reform of mixed ownership and diversification of equity were further promoted. More than 1000 new mixed ownership enterprises were added by central enterprises, and more than 150 billion yuan of social capital was introduced through the capital market and property market. In 2020, the central enterprises will make a new breakthrough in establishing a market-oriented management mechanism. According to Hao Peng, in 2020, it will comprehensively implement the tenure system and contractual management of management members in subsidiaries of central enterprises, further improve the payroll filing system and other relevant policies, and promote the market-oriented medium and long-term incentive system.