CSCEC Deepens SOE Reform to Boost Transformation, Upgrading

China State Construction Engineering Corporation (CSCEC) has made positive exploration in state-owned enterprise (SOE) reform from various aspects including ownership and operating procedures.

The company highly valued procedural reform to accelerate enterprise transformation and upgrading.

At present, CSCEC has eight listed companies. Two of its affiliated companies are selected as the "double-hundred enterprises" led by the State-owned Assets Supervision and Administration Commission of the State Council. Two were included in the science and technology reform demonstration enterprises and one CSCEC subsidiary was selected as a pilot unit of the mixed-ownership reform led by the National Development and Reform Commission.

The company also promoted market-oriented operating procedures to increase its vitality.

So far, four CSCEC subsidiaries have implemented the professional manager system and launched a medium-and long-term incentive and restraint mechanism of joint business and shared benefit and risks.

The company has also completed a detailed plan for the Three-Year Action Plan (2020-22) for SOE reform and clarified its missions.

CSCEC is determined to boost SOE reform to contribute to implementation of national development strategies and to develop into an internationally-leading demonstration enterprise.

The photo shows a view of the Shenzhen World Exhibition & Convention Center. CSCEC participated in its construction. [Photo/sasac.gov.cn]

(Executive editor: Wang Ruoting)