Guiyang conducts inspection on SOE reform

A team from the standing committee of the Guiyang Municipal Committee of the Chinese People's Political Consultative Conference carried out an inspection of several State-owned enterprises (SOEs) in Guiyang City and Gui’an New Area on Aug 19, focusing on the progress made in SOE reform and transformation.

The team visited Guiyang Water Environment Group, Guiyang Agricultural Investment Group's Guizhou Haike Industrial Development Co, and Guizhou Huinong Science and Technology Research and Development Co to gain a first-hand understanding of reform efforts, production operations, and enterprise transformation. Following the visits, a symposium was held to exchange views on the advancement of SOE reform.

The team advised SOEs to further accelerate market-oriented and substantive transformation; enhance investment and financing capacity to ensure cost reduction, efficiency gains, risk control, and standardized governance; and improve market-based remuneration mechanisms with differentiated performance evaluations to stimulate enterprise vitality and growth momentum.