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SASAC and Chinese Central SOEs Attend Boao Forum for Asia

Updated: 2019-04-10

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) Chairman Xiao Yaqing, Vice-Chairman Ren Hongbin and some leaders from central state-owned enterprises (SOEs) were invited to attend the 2019 Boao Forum for Asia Annual Conference, on March 27 and 28, where they shared their insights on reform and cooperation with other participants from China and abroad.

At the SOE reform sub-forum hosted by SASAC, Xiao noted that President Xi Jinping attaches great importance to SOE reform and is deeply engaged in its planning, deployment and advancement.

SASAC earnestly implements the deployments made by the central government and insists on the problem-oriented principle, he said.

He continued to explain that the SASAC has cancelled, delegated and authorized a number of supervisory and administrative items while continuously strengthening its supervision of key fields, so as to push the reform towards a market-oriented path.

SASAC and central SOEs  will insist on the CPC's leadership over SOEs and the general reform direction to set up modern corporate system. They will speed up to establish a modern SOE system with Chinese characteristics and a flexible and efficient market-oriented operation mechanism, and will stimulate the endogenous vitality and driving force of enterprises, Xiao stated.

SASAC will promote the supply-side structural reform, focus on industries and core businesses, speed up innovation-driven growth and further consolidate the foundation of high-quality development while deepening the mixed ownership reform, he added.

He hoped that enterprises of all types of ownership will participate in SOE reform and achieve win-win results and common development.

SASAC will enhance the supervision of state-owned assets, reform the authorized operation system, and make the supervision more effective, systemic and targeted, Xiao stated.

At a sub-forum on corporate social values hosted by SASAC and SK Holdings, Xiao said SASAC encourages and supports cooperation between central SOEs and enterprises of all types of ownership in exploring a better path for the coordinated development of the economy, society and the environment.

While in Boao, Xiao and Ren met with Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor, and held talks with Deloitte's Global Chairman David Cruickshank, Asian Corporate Governance Association Secretary General Jamie Allen, SK Holdings Chairman Chey Tae-won, and Fortescue Metal Group Chairman Andrew Forrest, exchanging in-depth views on expanding cooperation with central SOEs.

Leaders of central SOEs actively participated in several sub-forums, outlined SOE reform and progress and agreed to expand win-win cooperation in more fields and make greater contribution to the world and China's high-quality economic development.



(Executive editor: Hao Wen)

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