Guiyang and Gui'an focus on SOE reform, transformation

Hu Zhongxiong, secretary of the CPC Guiyang Municipal Committee, chaired a special meeting on the reform and transformation of State-owned enterprises (SOEs) in Guiyang City and Gui'an New Area on Oct 14.

Hu emphasized the need to deepen the reform of State-owned assets and companies, in order to drive growth and strengthen State-owned capital and businesses.

After hearing reports on the current status of the reform at the meeting, Hu called for the continued optimization of the State-owned capital layout.

He also called for the speeding up of the establishment of a modern enterprise system with Chinese characteristics and for the support of SOEs in enhancing their core functions and boosting their competitiveness.

Hu further stressed the importance of concentrating State-owned capital in key industries and sectors related to national security and the lifeblood of the economy – as well as in public services, emergency response capabilities and strategic emerging industries.

He urged SOEs to improve their operational efficiency – becoming independent business entities that are capable of managing their own operations, bearing responsibility for profits and losses and achieving self-discipline and self-development.

Ensuring the preservation and growth of State-owned assets was also a highlighted matter.

Additionally, Hu emphasized the need for SOEs to optimize their internal management and improve operational effectiveness to ensure their high-quality performance.