The Results Of Central Enterprises In The First Half Of The Year Are Mixed, And The Integration Of Specialization Will Be Strengthened Again

"In the first half of the year, the production and operation of central enterprises were generally better than expected, but we also saw that in the second half of the year, the reform and development of central enterprises were faced with great difficulties and pressure." In the first and second half of this year, Peng, the Secretary General of the State Council, said that he would strive to achieve rapid economic growth in the first and second half of this year

Peng Huagang said that SASAC will increase the encouragement and support for the steady growth of central enterprises in the aspects of performance appraisal and salary distribution. At the same time, we will fully implement the three-year action plan for the reform of state-owned enterprises, so as to effectively hedge the downward pressure on the economy with the reform results.

"In the second half of the year, the restructuring and mixed ownership reform of central enterprises will be accelerated, and the experience of state-owned enterprise reform will be further promoted." Li Jin, chief researcher of China Enterprise Research Institute, told the 21st century economic report that he was optimistic about the economic development prospect in the second half of this year.

Analysis of the report card of central enterprises in the first half of the year

In the first quarter of 2020, the income and profit of central enterprises have dropped by an alarming rate. Fortunately, the decline quickly stopped. After entering the second quarter, the economic operation of central enterprises improved significantly. In June, the income and profits achieved positive growth simultaneously.

In the first half of this year, the state owned assets supervision and Administration Commission (SASAC) recorded a decrease of 3.4% in business income, which was 3.4% lower than that in the first half of this year, a decrease of 3.4% compared with that in the first half of this year. In terms of profit, in the first half of the year, the accumulated net profit of central enterprises reached 438.55 billion yuan, a year-on-year decrease of 37.7%, a decrease of 21.1 percentage points compared with the first quarter and 12.6 percentage points lower than that of January may.

The recovery of data is mainly due to the accelerated recovery of production and operation in key industries and the gradual improvement. Peng Huagang pointed out that from the changes of production and operation physical quantity indicators of key industries, in the first half of the year, the steel output, crude oil output, power generation and electricity sales of central enterprises have recovered to more than 98% of the same period last year; orders for new ships increased by 21.2%, installed power capacity increased by 5.1%, sales of commercial coal increased by 1.8%, alumina production and power generation equipment increased by 1.8% New orders and other indicators have maintained a positive growth. The sales volume of refined oil in the second quarter increased by nearly 40% compared with that in the first quarter, and also increased year on year. The sales volume of the two power grid companies gradually recovered and improved after a 10.9% year-on-year drop in February. The decline rate in April narrowed to - 1.3%. In May, it turned into a positive growth of 4.6%, and in June, it increased by 6.5%. In the second half of the year, the improvement of coal and oil consumption also reflected the continuous improvement of the national economy.

What is particularly noteworthy is that in June, the central enterprises achieved operating revenue of 2.9 trillion yuan, a year-on-year increase of 0.6%, and a net profit of 166.48 billion yuan, a year-on-year increase of 5%. The revenue and profit achieved positive growth simultaneously, and most enterprises' monthly income and benefit recovered or exceeded the level of the same period. Peng Huagang disclosed that 57 central enterprises' income increased year on year in June, 33 Enterprises' income increased by more than 10%; 58 central enterprises' net profit increased year-on-year in June, and 46 enterprises' net profit increased by more than 10%.

"Six months is the turning point." Li Jin pointed out to the 21st century economic report that since the central government put forward the "six guarantees", the central enterprises have taken active actions, and their income and benefit have been greatly improved. "It can be seen that the central enterprises have played a leading role in maintaining economic growth throughout the year." Li Jin predicts that more than 80% of the state-owned enterprises in the second half of this year will achieve positive growth in revenue and profits.

Penggang also pointed out the role of central enterprises in promoting investment. It is reported that in the first half of this year, central enterprises completed 1 trillion yuan of fixed assets investment, an increase of 7.2% year-on-year, 5.9 percentage points faster than January may and 11.7 percentage points faster than the first quarter. Since the full resumption of work in March, the monthly fixed assets investment of central enterprises has resumed positive growth, with monthly investment growth rates of 4.1%, 11.8%, 13% and 21.2%, showing a trend of accelerating month by month. In the second quarter, the total fixed asset investment reached 673.07 billion yuan, up 14.8% year-on-year. In terms of industries, the growth rate of fixed assets investment in power generation, automobile, communication, metallurgy and other industries exceeded 15% in the first half of the year.

An expert from the Research Institute of SASAC, who did not want to be named, told the 21st century economic report that the operating conditions of central enterprises have improved significantly. The reason lies in the fact that the central enterprises have actively fulfilled the business performance indicators, taken special measures to improve the quality and efficiency, ensure the safety of the industrial chain and supply chain, guarantee the supply of basic products, and achieve economic growth with quality and efficiency, as well as performance appraisal and salary distribution It also provides encouragement and support for the economic growth of central enterprises. "The implementation of some major projects, breakthroughs in basic core fields and key links, improvement of independent innovation ability and promotion of people's livelihood services are the main reasons for the economic data growth of central enterprises." The expert said.

Increasing SOE reform to hedge downward pressure

After the most difficult first half of the year, the central enterprises can not rest. Peng Huagang jokingly said that at the beginning of the year, the central enterprises and SASAC signed this year's business performance responsibility letter, and they still need to strive to achieve positive growth in the overall efficiency of central enterprises. In this way, the gap that fell in the first half of the year, especially in the first quarter, should be rushed back in the second half of the year.

"In the second half of this year, we will ensure the industrial chain and supply chain." Li Jin believes that with the emergence of the trend of anti globalization, the global industrial chain is facing restructuring, and central enterprises need to further adapt to the restructuring of the global industrial chain, be good at identifying changes and seeking changes, and move from passivity to initiative, so as to create conditions for the next step of economic growth.

Peng Huagang also said that one of the work priorities of SASAC in the second half of the year is to solidly promote the steady growth of the central enterprises' operation and development, take the action of improving quality and efficiency as the starting point, guide the central enterprises to grasp the strategic basis point of expanding domestic demand, spare no effort to grasp the business development, coordinate the international and domestic markets, guarantee the supply of basic products, safeguard the safety of the industrial chain and supply chain, and strive to achieve quality Economic growth of quantity and benefit. "SASAC will also increase the encouragement and support for the steady growth of central enterprises in terms of performance appraisal and salary distribution."

Another important way is to take the implementation of the three-year reform of state-owned enterprises as an important starting point, guide and promote the central enterprises in improving the modern enterprise system, promoting the reform of the three systems, deepening the state-owned capital investment, operating company pilot projects, actively and steadily deepening the reform of mixed ownership, increasing the stripping of social functions and solving the problems left over by history Results: continuously stimulate the vitality of enterprise market entities, effectively improve the effectiveness of state-owned assets and state-owned enterprises reform, and effectively hedge the downward pressure of the economy.

On June 30, the 14th meeting of the central comprehensive Deepening Reform Commission deliberated and approved the three-year action plan for state owned enterprise reform (2020-2022). Peng Huagang revealed that SASAC will organize a special conference in the near future to explain the reform objectives, timetable and roadmap of the action plan.

The above-mentioned experts, who did not want to be named, told reporters that in the key period of state-owned enterprise reform in the next three years, we should make clear the timetable and roadmap for the key tasks of state-owned enterprise reform, and put forward clear tasks and measures, so that they can be quantified and evaluated. And put forward targeted measures. The main contents include establishing a modern enterprise system with Chinese characteristics, actively and steadily promoting the reform of mixed ownership, promoting the transformation of operation mechanism, promoting the structural adjustment of state-owned economy, promoting the solution of historical problems, and promoting the further improvement of the state-owned assets supervision system.

Li Jin also believed that in the second half of the year, a number of policies such as deepening the implementation of the mixed reform of state-owned enterprises and promoting the optimization of the layout and structural adjustment of the state-owned economy are also expected to be issued. At the same time, some of the previous reform pilot experience will be further introduced, and various reforms will enter a new stage of rapid progress and substantive breakthrough. Li Jin expects that the restructuring of central enterprises will increase greatly in the second half of the year, and the mixed reform will also be accelerated.

The reporter noted that in the first half of this year, the number of cases of restructuring and mixed reform of local state-owned enterprises increased significantly. On July 13, Shandong Province announced the joint reorganization plan of Shandong energy group and Yankuang Group, and the joint reorganization plan of Shandong Expressway and Qilu transportation group. The total financial revenue of Shandong high speed group and Shandong energy group will reach 637.7 billion yuan respectively according to the financial data of 637.1 billion yuan in 2019.

This is not the only project of state-owned assets reorganization in Shandong. On April 28, the official website of the state owned assets supervision and Administration Commission of Shandong Province released the "countdown" reform key work plan of provincial state-owned assets and state-owned enterprises, as well as the key reform plan of 37 enterprises, listing 20 key tasks in 2020. Among them, it is proposed to optimize the distribution structure of state-owned capital, implement strategic horizontal restructuring among provincial enterprises, and complete the reorganization and integration tasks of about 8 enterprises.

Recently, the state owned assets supervision and Administration Commission of Heilongjiang Province has also issued the implementation plan for the mixed ownership reform of state-owned enterprises in Heilongjiang Province. The state owned assets supervision and Administration Commission of Heilongjiang Province will select a number of enterprises with large assets or listed in the national "double hundred action" as the key enterprises to promote the mixed reform, adhere to the principle of "suitable mixing, one enterprise, one policy", and the reform direction of the integration of state-owned capital and private capital It is planned to promote 170 mixed reform projects in about three years.

According to the statistics of the Shenzhen Stock Exchange, in the first half of this year, 10 state-owned enterprises listed on the Shenzhen Stock Exchange carried out 10 reorganizations, with a total amount of 217.494 billion yuan. Among them, FAW car purchased 100% equity of FAW Jiefang with a price of 21.921 billion yuan, Dongfang energy acquired the financial holding platform of state power investment for RMB 15.112 billion yuan, Hualing iron and Steel Co., Ltd. implemented debt to equity swap and overall listing of steel assets of the group.

Due to the fact that the restructuring of state-owned enterprises is not as active as that of local state-owned enterprises, Peng Huagang explained in response to a question from the 21st century economic report that the reform of state-owned enterprises is not only restructuring, but also involves many aspects such as system, mechanism and structure. According to the economic development and the situation of the enterprises themselves, the central enterprises and all localities are actively promoting the reform. As for the reorganization and integration of central enterprises, SASAC hopes to promote more professional integration. In the first half of the year, the state-owned oil industry commission has been set up to further promote the integration of three oil processing enterprises, especially in the second half of the year. Peng Huagang said that with the further deepening of the reform, the professional integration of central enterprises will be further strengthened.

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