Further evidence that all Chinnese state-owned enterprises are related parties to each other

 As translated from the official website of Chinese government below, it's not difficult to see that SASACs under the uniformed leadership of Chinese Communist Party or Communist Party of China are positively coordinating activities with each other. Local SOEs must be considered as related parties to central SOEs as well as to both local and central governments of China. Investors must pay special attention to whether Chinese enterprises have fully disclosed related party transactions to make an informed decision.

On January 9, the State-owned Assets Supervision and Administration Commission of the State Council of China convened a meeting of the heads of the local SASAC and the directors of the office of the local state-owned enterprise reform leading group by video, summarizing the work of state-owned assets and state-owned enterprises in 2021, and clarifying the key tasks in 2022. Hao Peng, Secretary and Director of the Communist Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council and Director of the Office of the State-owned Enterprise Reform Leading Group Office of the State Council, attended the meeting and emphasized in his speech that it is necessary to thoroughly study and implement General Secretary Xi Jinping's important expositions on the reform and development of state-owned enterprises and party building, and fully implement the party's spirit of the 19th National Congress, the 19th Plenary Sessions and the Central Economic Work Conference, deeply understand the decisive significance of "two establishments", resolutely achieve "two maintenance", keep in mind the "bigger of the country", and adhere to the party's overall leadership over state-owned enterprises, adhere to the general principle of seeking progress while maintaining stability, fully, accurately and fully implement the new development concept, serve the construction of a new development pattern, promote high-quality development, focus on steady growth, and decisively win the three-year action of state-owned enterprise reform, optimize the layout of state-owned capital, and improve the state-owned assets supervision system, better play the leading role and strategic supporting role of the state-owned economy, make contributions to stabilizing the macroeconomic market and maintain the stability of the overall social situation, and welcome the victory of the 20th National Congress of the Communist Party of China with excellent results. Members of the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council attended the meeting.

The meeting held that in 2021, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping as the core, local SASACs and state-owned enterprises resolutely implemented the decisions and arrangements of the CPC Central Committee and the State Council, conscientiously implemented the work arrangements of local party committees and governments, and focused on "six stability". "Six Guarantees", bravely shouldering heavy burdens and forging ahead, new progress and remarkable results have been achieved in various work. Last year, the economic benefits of local state-owned enterprises reached the best level in history, and major projects were accelerated, providing strong support for my country's economic stability and improvement. The three-year action for the reform of state-owned enterprises has been carried out in depth, and the established goals and tasks have been fully completed. Breakthrough progress has been made in key areas and key links of the reform of state-owned enterprises, and the vitality of enterprise development has been continuously stimulated. The adjustment of the layout and structure of the state-owned economy has been significantly accelerated, the strategic reorganization and professional integration have been comprehensively advanced, the pace of industrial transformation and upgrading has been significantly accelerated, the joint construction of the “Belt and Road” has been deepened and solid, and the role of services in building a new development pattern has been further brought into play. Scientific and technological innovation has made all-out efforts, and achievements have been emerging, injecting new momentum into the development of local state-owned enterprises. The construction of a large-scale state-owned assets supervision pattern has been accelerated, the work of the state-owned assets system has been coordinated more smoothly, and the advantages of professional, systematic, legalized supervision have been further demonstrated. Over the past year, state-owned enterprises in various regions have stepped forward and taken the initiative at critical moments such as epidemic prevention and control, disaster relief, and energy supply guarantee, and have given full play to the role of "stabilizers" and "ballast stones".

The meeting emphasized that it is necessary to earnestly study and implement the spirit of General Secretary Xi Jinping's important instructions on economic work, especially the new deployment and new requirements for state-owned assets and state-owned enterprises, implement the specific deployment of Premier Li Keqiang at the Central Economic Work Conference, and guide the local party committee and government in accordance with the requirements. Promote state-owned enterprises to strengthen their responsibilities and take the initiative, and do a solid job in the reform and development of state-owned enterprises and party building. It is necessary to focus on stable growth, adhere to problem-oriented and goal-oriented, further consolidate the main responsibility of enterprises for maintaining and increasing the value of state-owned assets and risk prevention and control, and guide enterprises to increase quality and efficiency. Economic growth contributes to the strength of state-owned assets and state-owned enterprises. Highlight the three-year action for the reform of state-owned enterprises, go all out to pull hard nails and gnaw hard bones, highlight key points, grasp the key points, and tackle tough problems in depth, so as to ensure that the three-year action period will be fulfilled. Highlight the scientific and technological innovation of state-owned enterprises, strengthen the main role of enterprises in innovation, improve the innovation system and mechanism, strive to build a national strategic scientific and technological force, and vigorously promote high-level scientific and technological self-reliance and self-reliance. Focus on strengthening and optimizing the main industry, focus on the real economy, promote the transformation and upgrading of traditional industries, and strengthen the foundation for building a modern industrial system and promoting the smooth flow of industrial and supply chains. Highlight the party's leadership in party building, take the party's political building as the command, inherit the great spirit of party building, carry forward the advanced spirit of state-owned enterprises, promote the deep integration of party building and production and operation, and do a solid job in building a clean government and anti-corruption work. Provide a strong guarantee for state-owned capital and state-owned enterprises to become stronger, better and bigger.

The meeting pointed out that to do a good job of state-owned assets and state-owned enterprises this year, we must take the three-year action to decisively win the state-owned enterprise reform as an opportunity and as a starting point to accelerate the promotion of high-quality development. It is necessary to adhere to the principle of maintaining stability and seeking progress while maintaining stability, promote the improvement of quality, efficiency and steady growth of state-owned enterprises, ensure a stable start of production and operation of enterprises, actively promote the coordinated development of enterprises of various ownerships, and vigorously improve the ability of important energy resources and people's livelihood needs to be guaranteed. Strive to tackle the key difficulties in the reform of state-owned enterprises, establish and improve the modern enterprise system with Chinese characteristics, deepen the reform of three systems, improve the market-oriented operation mechanism, promote the reform of mixed-ownership enterprises to better change the mechanism and increase the vitality, do a good job in the special project of state-owned enterprise reform, and continue to promote the reform of state-owned enterprises develop in depth. Promote scientific and technological innovation with greater strength, further promote the strategy of strengthening enterprises with talents, increase scientific and technological collaborative research, accelerate key and core technology research, create a source of original technology, and continuously improve the technological innovation capabilities of state-owned enterprises. Based on industry and strengthening the industry, using strategic reorganization and professional integration as means, continue to promote the concentration of resources in the main business and advantageous enterprises, cultivate more "specialized, special and new" enterprises in combination with the advantages of local endowments, and accelerate the development of strategic emerging industries Industry, scientifically promote the "dual carbon" work, build a green and low-carbon circular industrial system, and continuously enhance the resilience and competitiveness of the industrial chain and supply chain. Prevent and defuse major risks, strictly strengthen the management and control of business risks, strengthen the awareness of compliance management, resolutely curb safety and environmental protection risks, implement the requirements of local party committees and governments for epidemic prevention and control, do a solid job in epidemic prevention and control, and firmly guard against the occurrence of systematic bottom line of risk. Consolidate and deepen the general pattern of state-owned assets supervision, optimize the means of state-owned assets supervision, achieve full coverage of local provincial and municipal SASACs and supervised enterprises, continue to strengthen the supervision of the whole process, further improve the efficiency of state-owned assets supervision, and promote the state-owned economy to achieve higher quality and efficiency. good, better-structured development.

The chief accountant and deputy secretary general of the State-owned Assets Supervision and Administration Commission of the State Council, responsible comrades of the Disciplinary Inspection and Supervision Team of the State-owned Assets Supervision and Administration Commission of the State Council, and various departments and bureaus of the State-owned Assets Supervision and Administration Commission of the State Council were at the main venue. The director of the State-owned Enterprise Reform Leading Group Office attended the meeting in various branches.