Guiyang SASAC moves to boost city's development

The Guiyang State-owned Assets Supervision and Administration Commission – also known as the Guiyang SASAC and is located in Southwest China's Guizhou province – is reportedly about to launch a series of measures to make State-owned capital play a greater and leading role in building a "strong provincial capital."

The initiative is said to be in response to Guizhou's strategic decision to vigorously boost the high-quality development of Guiyang, the provincial capital city, as well as Guian New Area.

A news conference was held on Nov 26 to announce the tasks and reforms that are to be carried out.

Steps will reportedly be taken to guarantee the implementation of the "Three-Year Action Plan for Guiyang State-owned Enterprise Reform" released in February and placed in the "1+N" policy system and the top-level design plan for the reform of State-owned enterprises, or SOEs, into effect.

Municipal SOEs are expected to present better business performances with higher levels of efficiency during the course of the plan.

According to an official, another important measure is optimizing the layout of State-owned capital. More investment will lead to expanded urban rail and public transportation, bolstering projects such as the line 3 and S2 transit lines, the Taijin line and the Guantan Avenue.

The tourism and agriculture industries are also among the focus of investment. Efforts will be made to promote the construction of the Tianhetan tourism resort into an ecofriendly and health tourism destination.

The Guiyang SASAC said the pilot reform of mixed-ownership enterprises should achieve success. It said in particular it was important to ensure that Guiyang Yongqing Instruments & Electronics Science & Technology Co – which was included in the fourth group of national mixed reform pilot enterprises – would enjoy steady progress.

In addition, State-owned capital investment and operation companies plan to sustain further growth. Guiyang Industrial Development Holding will be authorized to do strategic planning, investment and financing, performance evaluations and salary management.

The Guiyang SASAC will also review or cancel non-core businesses and inefficient and ineffective assets that do not perform. Since June, 135 out of 156 SOEs have completed the task.