Guiyang promotes development of State-owned enterprises

A press conference held by the Guiyang government on Oct 24. [Photo/colorful Guizhou network]

According to a statement at a press conference held on Oct 24 by the Guiyang people's government, Guiyang will strive to get State-owned enterprises such as the Guiyang Branch of Beijing Enterprises Water Group Limited, Guizhou Nanfang Dairy Co and Guiyang Yongqing Instruments and Electronics Science and Technology Co listed within five years, in order to promote the sustainable development of State-owned enterprises.

Guiyang will focus on deepening the reform of State-owned enterprises, improving regulations, strengthening the leadership of the Party in State-owned enterprises, and building a modern industrial system to form a high-quality State-owned enterprise development model.

Specifically, the city will increase innovation via high-quality industrial projects. A number of projects with strong investment returns, sensitive market response and market competitiveness will be planned.

In addition, Guiyang will continue to improve the competitiveness of leading technological enterprises such as Guizhou Tyre Co and promote the optimization and upgrading of industrial chains.

At the same time, the city encourages municipal State-owned enterprises and central enterprises, provincial enterprises, and district and county-level State-owned enterprises to participate in mergers and undergo reorganization by investing in shares, purchasing equity, directional additional issuance, subscribing convertible bonds, equity replacement, business cooperation and other means, effectively promoting the transformation and upgrading of State-owned enterprises.