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Hao Peng Attends Ministerial Virtual Dialogue between SASAC and DPE, Strengthening High-Quality Development of SOEs in China and South Africa through Exchanges, Consultation and Cooperation

Updated: August 26, 2021

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the Department of Public Enterprises (DPE) of the Republic of South Africa held a ministerial virtual dialogue on Aug 20.

Hao Peng, Chairman of SASAC, and Pravin Gordhan, Minister in the DPE of South Africa, attended the meeting and delivered speeches.

Hao and Gordhan jointly announced the official launch of the South Africa-China Structured Sharing Program on SOE Reform and Development.

Hao said that under the guidance of a series of important consensuses reached by Chinese President Xi Jinping and South African President Cyril Ramaphosa, SASAC stands ready to continue to strengthen experience sharing and mutual learning with the DPE in SOE governance, further explore key topics such as the oversight of state-owned assets and the reform of SOEs in the market economy, and jointly promote the high-quality development of the SOEs in the two countries.

Tan Zuojun, Vice Chairman of SASAC, presided over the meeting. Peng Huagang, Secretary General of SASAC, attended the meeting.

Hao said that the important consensuses reached by the two leaders on strengthening the collaboration of development strategies between China and South Africa have provided strategic guidance for the comprehensive deepening development of China-South Africa relations, and have also highlighted the direction for in-depth cooperation on state assets and SOEs of both sides.

Over the years, the two countries have made continued efforts to exchange experience on SOE governance, expand areas of cooperation, and elevate cooperation levels. During the COVID-19 pandemic, in particular, the SOEs of both countries supported and helped each other in the joint fight against the pandemic, with state assets and SOEs playing an important role in the economic and social development.

Hao expressed his gratitude to DPE for its long-term support and assistance in the cooperative development of Chinese SOEs in South Africa.

This year marks the centenary of the Communist Party of China (CPC), and that President Xi had solemnly declared that China has realized the first centenary goal of eradicating absolute poverty and building a moderately prosperous society in all respects, and is now marching towards the second centenary goal of  building a strong and modern socialist country in all respects. China will work to build a new type of international relations and a community with a shared future for mankind.

SASAC is ready to work with DPE to jointly implement the important consensuses reached by the two countries' leaders, adhere to extensive consultation, joint contribution and shared benefits, and enhance the complementarity of development strategies. It will promote the high-quality development of the Belt and Road Initiative through joint efforts, and strengthen strategic coordination in the fields of trade and investment, industrial production capacity, infrastructure, and SOE governance.

With a focus on forward-looking cooperation on digital, network, smart, and green development, the two sides will jointly explore new approach for SOEs to better tackle the challenge of climate change, promote technological innovation, create social values, and stabilize global industrial and supply chains.

With an open attitude, SASAC will promote the outcomes of cooperation to better benefit the people of the two countries, and continue to make contributions to the in-depth development of the comprehensive strategic partnership between the two countries.

More efforts will be made to boost exchanges and cooperation at departmental and enterprise levels of the two countries, as well as to strengthen coordination and cooperation on multilateral occasions. Both sides will strive to establish more consensuses on the governance of SOEs, and jointly create an open, fair, just and non-discriminatory environment for SOEs to participate in international market competition.

Gordhan spoke highly of the great achievements of the CPC over the past 100 years, appreciated the great success made by the Chinese SOEs in the reform and development, and applauded the series of cooperation consensuses reached by the two sides.

Gordhan said that the SOEs of South Africa and China play a vital role  in promoting the development of national economy, and that they boast aligned strategies, similar tasks and the goals on the paths of development and reform.

He expressed the hope to learn the concepts, experience and practices of China's state assets supervision and SOE reform. The DPE is willing to continue to increase multi-field communication and collaboration in regards to state assets and SOEs, as well as improve working mechanisms and conduct counterpart exchanges to help enhance the global competitiveness of South African SOEs, enabling them to play a greater role in promoting economic growth, especially in infrastructure construction and the process of re-industrialization, he added.

The executive teams of both sides delivered work reports at the virtual meeting. Representatives from the two countries' SOEs, China COSCO Shipping and Eskom Holdings SOC Ltd in South Africa, made speeches at the meeting.

After the meeting, the two sides held the first session of the Structured Sharing Program, briefing on the development status and the latest reform progress of their SOEs. A number of sharing and exchange activities that focus on state assets supervision system, strategic planning management, financial monitoring, property rights management, and the reform of mixed ownership, etc. will be held in the future.

The Chief Accountant and heads of relevant bureaus of SASAC, representatives of Chinese central SOEs, and representatives from South Africa attended the meeting.

(Executive editor: Hao Wen)