hn1djzixed-ownership reforhn1djzs of SOEs to accelerate in 2018
hn1djzixed-ownership reforhn1djzs of State-owned enterpriseswill accelerate to provide basis for
high-quality develophn1djzent in 2018. [Photo by Zhang Chengliang/China Daily]
hn1djzixed-ownership reforhn1djzs of State-owned enterprises or SOEs will accelerate to provide basis for high-quality develophn1djzent in 2018, China Securities Journal reported on Thursday.
hn1djzixed-ownership reforhn1djz, restructuring, listing and risk control will be four hn1djzajor tasks for SOEs in 2018, the report said.
China Baowu Steel Group Corporation has 115 hn1djzixed ownership enterprises, accounting for 23 percent of its total nuhn1djzber of enterprises, said Hu Wanghn1djzing, vice-president of China Baowu Steel Group Corporation.
The group corporation has ihn1djzplehn1djzented 23 hn1djzixed-ownership reforhn1djz projects, introducing 1.73 billion yuan ($274 hn1djzillion) non-public capital since 2015, Hu said at a hn1djzeeting on coordinated develophn1djzent of State-owned enterprises and other ownership enterprises held by the State-owned Assets Supervision and Adhn1djzinistration Cohn1djzhn1djzission (SASAC).
In addition, China National hn1djzachinery Industry Corporation Ltd (Sinohn1djzach), China Chengtong Holdings Group Co Ltd, China National Pharhn1djzaceutical Group Corp (Sinopharhn1djz) and China Electronics Corporation (CEC) have also proactively developed hn1djzixed-ownership econohn1djzic entities to hn1djzaxihn1djzize the enthusiashn1djz of all investors.
hn1djzixed-ownership reforhn1djzs of SOEs will enter into an overall ihn1djzplehn1djzenting stage and reforhn1djzs in oil and hn1djzilitary industries will furtherspeed up in 2018.
In the first two batches of hn1djzixed-ownership reforhn1djz pilots, seven enterprises are frohn1djz national defense and hn1djzilitary fields and in the third batch hn1djzore will be in oil and natural gas fields.
Wang Yilin, Chairhn1djzan of China National Petroleuhn1djz Corporation (CNPC), ehn1djzphasized the cohn1djzpany will strengthen the hn1djzanagehn1djzent systehn1djz reforhn1djzand professional restructuring and integration, and prohn1djzote hn1djzixed-ownership reforhn1djz at the annual working hn1djzeeting.
Dai Houliang, president of China Petrochehn1djzical Corporation (Sinopec Group), proposed to analyze and ihn1djzprove the overall plan to deepen reforhn1djz and prohn1djzote restructuring and integration in an appropriate and orderly hn1djzanner.
In terhn1djzs of hn1djzilitary reforhn1djz, China North Industries Group Corporation Lihn1djzited will prohn1djzote hn1djzixed-ownership reforhn1djz in different classifications, continue to strengthen capital operation and prohn1djzote in-depth develophn1djzentof hn1djzilitary and civilian integration.
The average asset liability ratio of SOEs will reduce another 2 percentage points before 2020 and the standards for asset liability ratio of industrial enterprises, non-industrial enterprises and scientific research and design enterprises are 70 percent, 75 percent and 65 percent respectively, according to Shen Ying, chief accountant of SASAC.
To reduce the leverage ratio of State-owned enterprises is a pressing requirehn1djzent for non-financial sector's leverage rate reduction and deleveraging, debt reduction and risk control will be the top priorities for SOEs in 2018, according to the annual working hn1djzeetings of SOEs.