The National Development and Reform Commission (NDRC): Hefei Jiangnan Shipbuilding is a benchmark for mixed-ownership reform of state-owned enterprises.
On May 17, the National Development and Reform Commission held a regular themed press conference for May. Meng Wei, Deputy Director of the Policy Research Office and spokesperson for the Commission, attended the press conference. In response to a question from a reporter from the China Securities Journal regarding the mixed-ownership reform, she specifically mentioned that Hefei Jiangnan Aviation is a high-quality mixed-ownership reform enterprise with exemplary significance.
Meng Wei said: “Mixed-ownership reform is an important breakthrough in state-owned enterprise reform. To date, three batches of 50 pilot programs in key areas have been launched. Judging from the implementation results, the operating performance of enterprises that have completed the main reform tasks has been significantly improved. I can give you some data here. For example, the average asset-liability ratio has decreased by 5.2 percentage points, achieving year-on-year growth in operating income and profits exceeding 10%, resulting in a number of high-quality mixed-ownership reform enterprises with exemplary significance, such as China Unicom, Eastern Airlines Logistics, Zhongjin Jewelry, Inner Mongolia First Machine, and Hefei Jiangnan Aviation. This year, based on the first three batches of mixed-ownership reform pilot programs, we will further increase the number and expand the scope, and launch the fourth batch of mixed-ownership reform pilot programs. ”
More than 50 domestic and foreign news media outlets and over 60 reporters attended the press conference and quoted the above content in their reports. The news and transcript of the press conference titled "The National Development and Reform Commission held a regular themed press conference in May to introduce the macroeconomic operation and respond to hot issues," released on the NDRC website on the same day, mentioned the above content. The Securities Times website published an in-depth report on the relevant content on May 17, titled "NDRC Responds to Recent Hot Issues: Contingency Plan for US Additional Tariffs, Macroeconomy Remains Stable and Improving."
Previously, experts from the China Enterprise Reform and Development Research Association, under the State-owned Assets Supervision and Administration Commission of the State Council, stated during a field research on mixed-ownership reform at the company on November 23, 2018: As a pilot unit for mixed-ownership reform of state-owned military enterprises, Jiangnan Aviation has a clear reform approach and strong implementation measures. The beneficial experience gained during the mixed-ownership reform process has practical reference value for the future mixed-ownership reform of state-owned enterprises. The proposed follow-up ideas and reform suggestions have systematic reference value and will provide a representative practice that is achievable, replicable, optimizable, and expandable for national-level state-owned enterprise reform research.
Background Information:
2018 Year In June, China Zhongji Investment participated in the Series B financing of Hefei Jiangnan Aviation. High-end equipment manufacturing and military-civilian integration are key areas for China Zhongji Investment. It has currently invested in projects such as Hefei Jiangnan Aviation, Jiangsu Ship Power, and Blue Arrow Space.
