A Transcript of Reform
China Africa (English)|March 2020
State-owned enterprises are being vitalized by recent reform measures
Zhang Shasha
A Transcript of Reform

Every January, Chinese central state-owned enterprises (SOEs) hold doz-ens of work conferences to map out plans for the new year. Employee stock ownership, mixed-ownership reform, reshuffling, innovation and reform are the buzzwords at this year’s meetings.

ChemChina and Sinochem Group, two central SOEs, announced the merger of their agricultural assets on January 5. The move is expected to not only integrate the two SOEs’ industrial chain, but also change the landscape of China’s agricultural and chemical industry.

China Electric Power Research Institute (CEPRI), a scientific enterprise under the state-owned electric utility company State Grid, started a dividend policy in 2017, a year after the government issued a document to encourage corporate dividends in scientific research-related areas.

“The incentive stabilized the researchers as the retention rate of core talent has increased to 98 percent since 2018,” Wang Jiye, Vice President of CEPRI, said. “The earnings are correlated to scientific payoffs, which is conducive to generating new technologies.”

Employee stock ownership has been initiated in mixed-ownership enterprises, with government capital holding the majority shares and employees purchasing equity and pledging assets, tying up their personal benefits with corporate development. Thus, the SOE salary system has been stably optimized since income is now associated with productivity and economic benefits.

These measures are medium- and longterm incentives that SOEs adopted to stimulate endogenous power as part of overall SOE reform. In recent years, SOE reform has made consistent progress. In 2019, the net margin of central SOEs was 1.3 trillion yuan ($185.2 billion), up 10.8 percent year on year.

Diese Geschichte stammt aus der March 2020-Ausgabe von China Africa (English).

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der March 2020-Ausgabe von China Africa (English).

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS CHINA AFRICA (ENGLISH)Alle anzeigen
Preserving a Source of Life
China Africa (English)

Preserving a Source of Life

Zambia takes measures to protect water resources and ensure ecological progress

time-read
5 Minuten  |
March 2021
Should We Stop The Trend of ‘Feminization'?
China Africa (English)

Should We Stop The Trend of ‘Feminization'?

In traditional Chinese thinking, women are supposed to be gentle and soft and men masculine. In recent years, however, the popularity of young male film and TV stars who appear to be “feminine” in their dressing, hair style and even mindset and their impact on the youth has led some to believe that the Chinese boys are not “masculine” enough.

time-read
4 Minuten  |
March 2021
Green Renaissance
China Africa (English)

Green Renaissance

China adopts comprehensive measures to protect Yangtze River environment

time-read
7 Minuten  |
March 2021
Building an Immune Barrier
China Africa (English)

Building an Immune Barrier

Chinese vaccines help the global fight against COVID-19 pandemic

time-read
5 Minuten  |
March 2021
A Promising Change
China Africa (English)

A Promising Change

As first female and African head of the WTO, Ngozi Okonjo-Iweala is enjoined to advance the prospects of common development

time-read
4 Minuten  |
March 2021
Service Before Celebration
China Africa (English)

Service Before Celebration

A doctor’s contribution to normalization of life

time-read
3 Minuten  |
March 2021
Delivering Happiness
China Africa (English)

Delivering Happiness

Deliveryman continues to work during the holiday to meet the needs of customers

time-read
3 Minuten  |
March 2021
Skiing Upsurge
China Africa (English)

Skiing Upsurge

Olympic winter games spur growth of snow economy in Beijing suburbs

time-read
4 Minuten  |
March 2021
An Unbreakable Bond
China Africa (English)

An Unbreakable Bond

Chargé d’affaires ad interim of the Chinese Embassy in Nigeria talks about bilateral ties

time-read
5 Minuten  |
March 2021
A Different Celebration
China Africa (English)

A Different Celebration

Chinese people respond to the call to spend the Spring Festival holiday in situ

time-read
4 Minuten  |
March 2021