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China Chengtong held the first half of 2017 operation analysis meeting

The Group’s Headquarters     2017-07-21         

On July 19, China Chengtong held the first half of 2017operation analysis meeting at headquarters, and conveyed the spirit of important speeches delivered by Deputy Premier Ma Kai at the ‘National Conference on State-owned Enterprises (SoEs) Reform Experience Exchange’ and by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC)’s Secretary of the Party Committee Hao Peng and Chairman Xiao Yaqing in ‘Training Courses for Central SoEs and Person in Charge of Local SASAC’. The Group summarized its first half year work, deployed work for the second half of the year in order to ensure the successful completion of all tasks assigned for the entire year and greet the grand opening of the Party’s 19th National Congress with excellent achievements.

The Group’s Secretary of Party Committee and Chairman Ma Zhengwu, President and Deputy Secretary of Party Committee Zhu Bixin, Director of the 08 Division of the State Council’s Key State-owned Large Scale Enterprises Supervisory Board Zhang Zhenliang, Deputy Inspector Cai Xiaoming, full-time Supervisor Fu Liping, external Director Zhang Peng, the Group’s leadership: Shan Zhongli, Qi Kaiming, Xu Zhen, Li Yousheng, Tong Laiming, Xiang Hong and Zhang Xianghong attended the meeting. Director Meng Weilin attended the meeting in Chengtong International Trading venue.

In the first half of this year, the Group carried out its work in three main areas: improving quality, enhancing efficiency and securing growth; pushing forward restructuring the state-owned capital operating company; strengthening the Party building work in an all-round way. Achievements gained have been very impressive and the development trend is gratifying. First, the Group’s work on quality improvement, efficiency enhancement and organization downsizing progress well. The Group has achieved its two targets, namely ‘completion of half of the annual task assignments within the first half of the year’ and ‘optimization of business structure’. There is a fast development of high-end innovation formats; the scale of high-quality traditional business has steadily expanded; transformation of the traditional business formats has promoted profitability; the work on the treatment of zombie companies and companies suffering from financial difficulties and ‘pressure relief’ work have been advanced; the organization work of the headquarters has been perfected; the foundation of operating company has become more sound and solid. Second, significant progress has been made in promoting the restructuring of state-owned capital operating company. The Group has gathered lots of experience from its pilot capital operation work and clarified its strategic targets in the 13th Five-Year period. China Structural Reform Fund has become more and more active and important in providing services to the adjustment of SoEs’ layout, and the establishment of real estate investment platform and financial sector and foreign capital operation work have progressed in a steady manner. Third, the Party building work has been strengthened continuously. The Group has implemented requirements from SASAC’s Party Committee, seriously studied General Secretary Xi’s important speeches and instructions. By welcoming the grand opening of the Party’s 19th National Progress as its focus, the Group has thoroughly implemented the overall responsibility of strictly administering the Party, explored new methods for Party building work under the new situation and provided strong support for building the ‘comprehensive reform experimentation zone’.

 

Ma Zhengwu fully affirmed the work of the Group in the first half of 2017 and put forward three important questions, namely ‘developing a profound understanding of deepening the reform of state-owned capital and SoEs in a comprehensive manner’, ‘accurately grasping the direction and content of the pilot capital operation companies’, and ‘further improving security risk prevention and stability awareness’, which requires more attention by incorporating the development situation the Group is facing. Ma Zhengwu also laid out five requirements on the Group’s work: first, push forward comprehensive reform. Invested enterprises should seize the reform window period, identify reform breakthrough and achieve a full coverage of comprehensive reform; second, greatly enhance operational efficiency, constantly optimize the business structure, and achieve a sustained development of invested enterprises; third, strengthen risk control and prevent the loss of state-owned assets; fourth, strengthen the linkage between the upper and lower levels and solve problems arising from the reform; fifth, strengthen Party building work comprehensively, implement the requirement from ‘Opinions on Comprehensively Strengthening the Implementation of Party Building’ and firmly establish the ‘Four Consciousness’ (consciousness of the ideology, the whole, the core and the line).

Ma Zhengwu emphasized that mission and responsibility China Chengtong was shouldering has experienced a dramatic change. All China Chengtong staff must apply higher standards and place more strict demands on their own work. Only if every detail has been perfectly completed, the completion of the capital operating company's mission could be realized. The Group should adhere to its ‘four boldness’ reform spirit developed over the past 25 years, strengthen the implementation and eliminate ‘four NOT phenomenon’ (‘not making attempt to make progress, not down to earth, not focusing on practice and implementation, not to shoulder responsibilities’). Any carders who fall into the above mentioned four categories must be replaced.

 

Zhu Bixin delivered a speech in the meeting. He provided a comprehensive summary of the Group’s performance in the first half of 2017, analysed problems found in the first half of this year, deployed the key tasks in the second half of 2017 and put forward five specific requirements for the Group’s second-half-year work: first, promptly implement the spirit of the ‘National Conference on State-owned Enterprises Reform Experience Exchange’ and ‘Training Courses for Central SoEs and Person in Charge of Local SASAC’, pool the consensus of reform and development, work hard and make active efforts; second, make the role of strategic leading prominent. The Group’s 13th Five-Year strategic objectives must be based on the state-owned capital operating company’s positioning, functions and features. These objectives should be updated in a timely manner, actively implemented, and lead the Group’s development according to established strategic positioning; third, ensure growth, focus on objectives and tasks set earlier, make sure the responsibility is in place at all levels and ensure the excess profits of the annual budget target. Enhance the Group’s overall control and management and prevent risks effectively. Continue to do a good job at dealing with zombie enterprises and companies suffering from financial difficulties, and be determined to complete the task of downsizing the organization and improving efficiency; fourth, fully exert the role of capital operating platform, give full play to the leading role of the China Structural Reform Fund in the implementation of the national strategy and support to structural adjustment, build the financial sector, optimize and perfect operating company’s organizational system and achieve breakthroughs in its pilot work; fifth, strengthen the Party building work comprehensively and strictly and promote the Group’s further development on the basis of completing more efficient Party building work.

Zhu Bixin emphasized that all China Chengtong staff should seriously study the spirit of the ‘National Conference on State-owned Enterprises Reform Experience Exchange’ and ‘Training Courses for Central SoEs and Person in Charge of Local SASAC’ and further improve the Group’s work on the basis of achievements it has attained in the first half of 2017, in order to achieve the ultimate annual target, which is to realize ‘the overall construction of new system and mechanism of state-owned capital operation’, and to make positive contributions to the great cause of ‘comprehensively deepening the reform of state-owned enterprises’.

The Group’s Vice-President Qi Kaiming reported the work on downsizing the organization and improving efficiency in the first half of 2017, Chief Accountant Xu Zhen reported the Group’s budget completion in the first half of the year, CMST Development and Chengtong Fund exchanged their work experience.
  
The conference called the Group’s leaders at all levels and its entire staff to work harder, to seize the opportunity, and to be highly cooperative, courageous and active, in order to greet the grand opening of the Party’s 19th National Congress with outstanding achievements in reform and business performance.

The Group headquarters’ entire personnel and person in charge of the Group’s Beijing-based subsidiaries’ Party and management organs participated the meeting in the main venue. Other leaders and department heads from the Group’s subsidiaries attended the meeting through video conferencing in other venues.

 

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