Exclusive Dialogue with Executive Deputy Director YIN Yisheng from Office of the Leading Group for Comprehensively Deepening Reform of SASAC
2021-06-10 | Beijing
On 10th June, the European Chamber President Joerg Wuttke held an exclusive dialogue with Mr Yin Yisheng, Executive Deputy Director from Office of the Leading Group for Comprehensively Deepening Reform of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Representatives from nearly 100 enterprises, ambassies and associations attended the event.
Mr Yin first delivered a comprehensive briefing on China’s SOE reform in terms of its course of development and the progress it has made to this date. In the successive dialogue with President Wuttke, Mr Yin responded to a variety of questions that are most concerned by member companies in the SOE reform, including the decarbonisation initiative, technology innovation and fair competition.
Mr Yin stated that amid the major shifts of the global agenda – accelerated by the outbreak of the COVID-19 pandemic - multiple challenges have emerged. In such a time of difficulties, SASAC will unswervingly deepen the SOE reform by further improving the vitality and efficiency of China’s SOEs in terms of advancing the modern corporate system, perfecting the economic layout, deepening the mixed ownership and market-oriented corporate operation systems, improving the state-capital supervision and management, promoting the fair market competition, etc.
With regards to fair competition, Mr Yin emphasised that SASAC is committed to prohibiting the abuse of the favourable market position in the competition. He introduced that in the Three-year Action Program of SOE Reform, regulations on censorship will be further specified in order to ensure better market-access conditions to FIEs.
When speaking about the role of SOEs in achieving the decarbonisation goals set in the 14th Five-year Plan, Mr Yin sustained that SOEs will take the lead in the process and will rely on technological innovations to address environmental issues and keep driving economic growth.
Lastly, Mr Yin stressed that, despite the challenging global scenario, China will further open up its market to foreign investment; the latter will continuously play an indispensable role not only in the SOE reform but also in China’s economy in general.