More possibilities for the mixed reform of coal state-owned enterprises

On April 25, 2019, the press office of Shanxi provincial government held a press conference to release the action plan for the reform of state owned enterprises with state owned assets in 2019 and the operation guide for the reform of mixed ownership of provincial enterprises. According to the plan, Shanxi Province will promote the reform of state-owned enterprises by classification and carry out comprehensive mixed reform of competitive enterprises. Among them, the group level of coal enterprises affiliated to Shanxi Province should be promoted to introduce strategic investors to all kinds of ownership enterprises in the country; a number of mixed reform projects of coal mines should be launched to allow private enterprises to hold shares. We will promote the mixed reform of coal and power projects under construction by provincial state-owned enterprises, and allow the shareholding ratio to be reduced from absolute to relative. In September 2019, Henan energy and chemical group implemented the professional manager system and established a market-oriented personnel selection and employment mechanism.

According to the measures for the administration of the tenure system and contractual management of the managers in the secondary units of Henan energy and chemical group (Trial) and the procedures for the appointment of the managers in the secondary units of Henan energy and chemical group formulated and issued by the company, the newly appointed managers in the secondary units of Henan energy implement the tenure system and gradually implement the identity transformation between the managers and professional managers in the secondary units And implement contractual management. The members of the management level shall be recommended by the Party committee of each unit to the board of directors after study, and the board of directors shall be appointed according to the procedures, with an appointment period of three years. In November 2019, Huaihe Energy Holding Group held a press conference to announce the formal change of Huainan mining industry to Huaihe Energy Holding Group Co., Ltd., marking the further reform and listing of Huainan mining industry. Since 2016, Huainan mining has been testing the mixed ownership reform of state-owned enterprises and actively preparing for listing. After the restructuring, Huaihe Energy Holding Group will focus on the main energy industry from the past "diversified" development, and develop along the industrial chain, service chain and value chain of the three major industries of "coal, electricity and gas", aiming to become a large modern comprehensive energy service group. Shanxi, Henan and Anhui are the epitome of the reform of state-owned enterprises in the old coal province.

Since this year, the reform of state-owned enterprises in the coal industry has continued, and the merger and reorganization, capital increase and share expansion, restructuring and listing of central enterprises and central enterprises, central enterprises and local coal enterprises, and provincial state-owned enterprises have occurred from time to time. Since the CPC Central Committee and the State Council issued the guiding opinions on deepening the reform of state-owned enterprises in 2015, the reform of state-owned enterprises has begun. In 2019, the reform of state-owned enterprises entered a comprehensive construction period. State owned coal enterprises have carried out various forms of mixed ownership reform, or carried out specialized restructuring, optimized allocation of similar resources; or established listed companies, financial companies and holding, equity financial industry; or layout market financing, bond issuance, equity cooperation, the introduction of social capital. The mixed reform of state-owned coal enterprises, on the one hand, improves the concentration of coal industry and enhances the market competitiveness; on the other hand, it is conducive to the establishment of modern enterprise system and the transformation and upgrading of coal industry. In the new year, the reform of state-owned enterprises is expected to accelerate. According to the deployment of the third meeting of the state owned enterprise reform leading group of the State Council on November 12, 2019, the next three years will be the key historical stage. China will promote the reform of state-owned enterprises to develop in depth. It is required to study and formulate the three-year action plan for the reform of state-owned enterprises, and clearly put forward the reform objectives, timetable and roadmap. We are happy to see that in 2020, there will be more possibilities for the reform of state-owned enterprises in the coal industry.