sichuan: "one enterprise, one policy" to promote a new round of state-owned enterprise reform
2024-08-30
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china economic weekly reporter shi qingchuan
as one of the fastest growing provinces in western my country, sichuan's state-owned enterprises have a significant driving effect on the economy. according to statistics from the sichuan provincial state-owned assets supervision and administration commission, in 2023, the total profits of local regulated enterprises in sichuan ranked third in the country, a record high.
the third plenary session of the 20th cpc central committee issued the "decision of the cpc central committee on further comprehensively deepening reform and promoting chinese-style modernization", which made major arrangements for further deepening the reform of state-owned assets and state-owned enterprises. how did sichuan plan the previous three-year action plan for state-owned enterprise reform and the ongoing action plan for deepening and improving state-owned enterprise reform? how should it make efforts next?
interviewees of the chengdu intelligent computing center led by chengdu gaotou electronics group | photo provided
technology investment has become a key area of competition for sichuan state-owned enterprises
at the press conference on the reform and development of state-owned assets and state-owned enterprises in sichuan province at the beginning of this year, feng wen, secretary of the party committee and director of the sichuan provincial state-owned assets supervision and administration commission, said that the sichuan provincial state-owned assets supervision and administration commission will complete more than 70% of its main tasks this year. according to data released by sichuan province, in 2023, the total assets, total operating income, and total profits of local regulatory enterprises in sichuan province ranked 5th, 7th, and 3rd in the country respectively, setting a historical record.
in 2023, local state-owned enterprises in sichuan province paid 137.9 billion yuan in taxes and fees, a year-on-year increase of 14.2%, and provincial enterprises paid 1.338 billion yuan in state-owned capital income, a year-on-year increase of 12.9%.
behind the record highs of many data, it reflects that the development momentum of state-owned enterprises is being continuously released.
jing ping, member of the party committee and deputy general manager of sichuan development (holdings) co., ltd. (hereinafter referred to as "sichuan development"), revealed to the reporter of china economic weekly that the asset scale of sichuan development's consolidated financial statements in 2023 was nearly 2 trillion yuan, with total operating income of 425.1 billion yuan, total profit of 21 billion yuan, and tax payment of 17.879 billion yuan. it was awarded an international "a" credit rating in 2023.
the electronic information industry group under chengdu hi-tech investment group also achieved good results.
since 2023, a company has been called the "chengdu smart terminal chain leader" by the sichuan industry. this is huakun zhenyu, a company that chengdu gaotou electronics group focuses on cultivating and empowering. this company, founded in 2020, became a "dark horse" in the industry as soon as it appeared. in 2021, it achieved a revenue of 1.086 billion yuan, and its performance doubled against the trend to 3.424 billion yuan in 2022. in 2023, its revenue was nearly 8 billion yuan...
behind these achievements is sichuan state-owned enterprises' efficient use of state-owned capital in the field of science and technology.
a relevant person in charge of chengdu gaotou electronic information industry group revealed in an interview with a reporter from china economic weekly that at the beginning of the reform and integration in 2022, the electronic group first divested its original public infrastructure construction business and real estate business, and completely transformed into an industrial enterprise. over the past two years, the electronic group has initially formed an industrial cluster in the three major tracks of integrated circuits, new displays, smart cities and new start-ups by investing in and cultivating key link enterprises in the upstream and downstream of the local electronic information industry chain.
"for example, in the field of integrated circuits, the electronics group has invested in companies such as laipu technology, xinjin electronics, mingyi electronics, innoda, aig technology, shixin semiconductor, and xinhuo microtest, covering key links such as industrial design software, high-end chip design, pilot production, and chip testing." the above person in charge said.
sichuan development has a special preference for emerging industries and future industries. jing ping revealed that sichuan development mainly deploys emerging industries and future industries through fund investment, with a total investment of nearly 40 billion yuan in strategic emerging industries, and has established a full-life cycle science and technology innovation investment service fund group with a total scale of about 36 billion yuan, including the academician fund, digital fund, and military-civilian integration fund, focusing on artificial intelligence, new generation information technology, high-end equipment, biomedicine and other fields, and investing in 157 strategic emerging industry projects such as avic uav, koala youran, and rong chuangneng, as well as major national strategic backup projects such as chengdu huahong semiconductor.
in the field of high technology, sichuan's investment is also expanding every year. jing ping revealed that in 2023, sichuan's r&d investment reached 783 million yuan, a year-on-year increase of 10.75%, and the r&d investment intensity reached 2.52%; the cumulative investment in scientific research in the past three years was about 2 billion yuan, with an average annual increase of more than 25%; the number of patents increased year by year, and a total of 1,743 patents have been obtained.
at9508 g3 server product launched by huakun zhenyu, a holding company of chengdu gaotou electronics group. respondent | photo provided
during the 14th five-year plan period, sichuan province's first gas-fired power project, sichuan investment yangqi power, generated more than 250 million kwh of electricity online.
accelerate the creation of original technology sources for state-owned enterprises
it is a general trend to use technological innovation to open up new areas and new tracks for development and to create new momentum and new advantages for development. therefore, innovation has gradually become a core driving force for the reform of sichuan’s state-owned enterprises.
data from the sichuan provincial science and technology bureau shows that in 2023, state-owned enterprises in sichuan province invested 21.4 billion yuan in research and development, a year-on-year increase of 12.2%, of which provincial state-owned enterprises invested 9.17 billion yuan, a year-on-year increase of 28.9%; a number of core technologies with internationally advanced levels achieved breakthroughs; electronic information, new materials, biomedicine, etc. have become frontier industries that promote the reform of sichuan state-owned enterprises.
state-owned capital has a significant driving effect in the field of innovation. after provincial enterprises invested heavily in scientific research, sichuan province has 10 "science and technology reform demonstration enterprises" and "double hundred enterprises", ranking first among western provinces.
looking to the future, investment in scientific and technological innovation will continue to be a long-term focus of sichuan state-owned enterprises.
a reporter from china economic weekly learned from the sichuan investment group that the group gives priority to the development of electronic information components and intelligent rail transit, strengthens the research and development of key core technologies, and strives to create 1 to 2 original technology sources to help build a strong province in science and technology.
jing ping revealed that sichuan development is also actively cultivating strategic emerging industries and future industries such as electronic information, equipment manufacturing, and new energy, and is resolutely withdrawing from "two non-" businesses such as education and cultural tourism.
chengdu gaotou electronics group also focuses on the future and innovation. its relevant person in charge told the reporter of china economic weekly that state-owned enterprises in sichuan should closely combine the needs of building a strategic hinterland, formulate corporate strategies, and attract and promote more high-level projects in coastal areas to land in sichuan.
"for example, last year chengdu gaotou electronics group established chengdu gaotou lingchuang kinetic energy technology co., ltd., which focuses on attracting investment in cutting-edge technologies. it closely connects with central enterprises and "large research institutes" in coastal areas to strive for the implementation of future technology projects. at the same time, we have also joined hands with the department of electronics of tsinghua university to establish the "xinhua innovation center" in chengdu. relying on the scientific research advantages of universities, we have incubated and implemented more than 10 projects in the fields of ic design, artificial intelligence, etc. in chengdu, driving the high-quality development of the regional economy." said the above person in charge.
"one enterprise, one policy" has become a distinctive highlight of sichuan's new round of state-owned enterprise reform
a study by the institute of modern state-owned enterprises of tsinghua university shows that state-owned capital investment and operating companies mainly carry out optimization activities by withdrawing from some markets, improving governance levels and improving operational efficiency. such reforms help state-owned enterprises out of difficulties, and the effect is more significant in the central and western regions.
the decision of the cpc central committee on further deepening reform and promoting chinese-style modernization, which was reviewed and approved at the third plenary session of the 20th cpc central committee, clearly stated that it is necessary to promote the strengthening, optimization and expansion of state-owned capital and state-owned enterprises, enhance core functions and improve core competitiveness. it is also necessary to further clarify the functional positioning of different types of state-owned enterprises, improve the management of main responsibilities and main businesses, and clarify the key investment areas and directions of state-owned capital.
this year's government work report clearly stated: "we will implement the action plan to deepen and improve the reform of state-owned enterprises, strengthen and improve the main business, enhance core functions and improve core competitiveness."
sichuan province's government work report this year mentioned that it would adopt a "one company, one policy" approach to improve performance management and assessment methods, guide enterprises to strengthen their main responsibilities and businesses, and rectify the behavior of piecing together scale and inflating performance.
keywords such as "enhancing core functions" and "strengthening main responsibilities and main businesses" have pointed out the development direction for state-owned assets and state-owned enterprises in sichuan province.
what are the core functions and core competitiveness of sichuan state-owned enterprises?
sichuan development is the state-owned enterprise with the largest asset scale in sichuan province. jing ping said that sichuan development's core functions include strengthening the four major real industries of ecological protection, advanced materials, biomedicine, and aerospace, cultivating strategic emerging industries and future industries, and at the same time optimizing the three major platforms of strategic shareholding, scientific and technological innovation, and open investment. it must also rely on multi-level capital markets to promote the development of real industries through capital operations.
a relevant person in charge of chengdu gaotou electronics group said that its core function is to help the regional electronic information industry "build a circle and strengthen the chain" and contribute to the country's high-level scientific and technological self-reliance. the core competitiveness of the electronics group lies in, on the one hand, through accurate understanding of the industrial chain, investing in and acquiring technology-based industrial enterprises such as huakun zhenyu, establishing resource and technology barriers, and creating difficult-to-copy market competitive advantages; on the other hand, the electronics group can focus on the industry, deploy industrial technology services, digital services and other highly flexible and low-cost businesses, and quickly adapt and adjust to market changes.
the different fields in which each enterprise operates also lead to differences in their core competitiveness. therefore, the "one enterprise, one policy" reform has become a distinctive highlight of sichuan's new round of state-owned enterprise reform.
regarding sichuan's core development functions and the industrial driving role that needs to be exerted, jing ping told the reporter of china economic weekly that in terms of "one enterprise, one policy", sichuan development has proposed reform requirements such as "building a small headquarters, large groups and large industries", "planning and building 1 to 2 strategic emerging industry science and technology parks", and "strengthening the integration of industry and finance and support for scientific and technological innovation development".
a relevant person in charge of the sichuan provincial state-owned assets supervision and administration commission stated at a press conference in february this year that 19 provincial enterprises have been studied and analyzed one by one. in accordance with the requirements of classified reform and "one enterprise, one policy", the enterprises have been divided into four categories: investment and operation, infrastructure, energy and resources, and modern service industries. the main directions of the new round of reforms have been clarified one by one, so as to achieve "innovation in prescribed actions and individuality in optional actions."
(this article was published in china economic weekly, issue 16, 2024)
