At the Hainan Island Enterprise Reform and Development Conference, China reported that during the 14th Five-Year Plan period, Hainan State-owned enterprises should strive to quadruple their assets, have an operating profit of over 200 billion yuan, and create about 10 new listed companies. It is reported that Hainan's state and state-owned enterprises have accelerated their development and growth over the past five years.
By the end of the 13th Five-Year Plan period, the total assets of provincial enterprises reached 211.6 billion yuan, and the net assets were 106.9 billion yuan, 2.2 times more than at the end of the 12th Five-Year Plan. The meeting noted that during the 14th Five-Year Plan period, public capital should continue to focus on infrastructure construction, provision of universal services, building emergency response capacity and public welfare in the Hainan Free Trade Port, and fostering the construction of leading and promising industries of the Hainan Free Trade Port.
Build a first-class public sector investment and operating company with capital, and build a group of leading industrial groups and specialist groups with outstanding core businesses and high competitiveness. Hainan also implements a three-year action plan for the reform of state-owned enterprises, basically create a modern enterprise system with the characteristics of a Hainan free trade port, make new progress in mixed ownership reform, and improve the market-based operating mechanism. Listed companies will represent active shareholders to participate in corporate governance.
The company has realized the ownership of shares of the company's management and key employees; at the same time, the establishment of a state asset supervision system based on capital management has significant results. At the meeting, it was proposed to increase the total profit of provincial enterprises by about 20% this year, the project will contribute to the leap forward development of state-owned state-owned enterprises in our area. It is reported that this year, provincial enterprises are planning to implement 206 projects with an annual planned investment of RMB 24.5 billion. Provincial SASAC is implementing a “Special Project Planning Event” to create a database of key projects for provincial businesses.
This year, the State Asset Supervision and Management Commission of Hainan Province will continue to take the lead, provide high-quality and efficient services to central enterprises to invest in Hainan, aiming to add at least 10 registered central enterprises in the regions. headquarters or subsidiaries and actively help central enterprises to solve problems arising in the construction and investment of projects. 2021 will be a critical year for the three-year reform of state-owned enterprises. Hainan Provincial SASAC will steadily contribute to the various reform objectives such as improving corporate governance, strengthening the board of directors, and ensuring full managerial and managerial authority for managers.
This year, Hainan will strengthen the development of the core business of state-owned assets and state-owned enterprises around the construction of the free trade port. The core business of each provincial enterprise will be re-approved. In principle, each provincial enterprise will have no more than 3 main enterprises; every main business will run. Revenue and profit must account for more than 25% of the company's operating revenue and total profit. For enterprises that match the supported industries of the Hainan Free Trade Port and are planned to develop and cultivate, they can be appropriately relaxed. In addition, Hainan will also focus on preparing articles on capital operations of state and state-owned enterprises this year, the implementation of the plan to grow listed companies; guiding technology sub-enterprises of provincial enterprises to deepen market reforms, creating a group of reform models of state-owned technology enterprises and independent pioneers of innovation, and accelerating the creation of a state-owned asset supervision system that mainly manages capital.
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