Shao Yaliang Met Mr. Wen Zhenfu, Director-General and Party Secretary of SASAC of Hubei Province
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Mr. Shao Yaliang, President of SIG, met with Mr. Wen Zhenfu, Director-General and Party Secretary of State-owned Asset Supervision and Administration Committee of Hubei Province On April 1st.
Mr. Shao briefed the guests on the history, business sectors and the management structure of SIG, as well as details on Shanghai SOE reform and the transformation of SIG. He stated, according to the arrangements of the CPC Shanghai Municipal Committee and Municipal Government of Shanghai, SIG has implemented the vertical asset restructuring, and has strategically transformed itself from a financial holding group to a state-owned assets operating platform. This year, SIG will materially kick off the launch of SOA operating platform based on the flow and operation of incremental capital, the investment and management of existing capital, thus exploring the way to build an efficient state-owned assets operating company consistent with international practice.
Mr. Wen Zhenfu introduced the overall thinking and approach of the reform of SOEs in Hubei Province. He said, the SASAC of Hubei Province will focus on strategic assets, top-level planning and categorized guidance. Through various means such as capital restructuring and equity operation, it will collectively hold the state-owned shares, improve the re-financing mechanism, liquidize the state-owned assets, strengthen the state-owned financial holding enterprises and optimize the layout of state-owned economy. The visit to SIG aims at drawing upon the experience of SIG in financial holding, capital operation and investment management. Hopefully, the two sides will step up the exchanges and deepen the mutually beneficial cooperation.
The two sides also frankly exchanged views on the establishment of financial holding companies, integration of financial resources, corporate governance and key points and difficulties in state-owned asset management.
Mr. Liu Zhitian, Deputy Director-General of Hubei SASAC, and heads of departments of SIG also attended the meeting.
