After more than 40 years of continuous and extensive reform, China's state-owned enterprises have completely changed and deeply integrated with the market economy and developed into modern new state-owned enterprises adapted to the requirements of the market economy.
A delegation of leaders of Vietnamese state-owned enterprises visited and learned from experience in China.
These enterprises have made important contributions to China's economic and social development, scientific and technological advancement, and improvement of people's social security. The experience in reform and development of Chinese state-owned enterprises has good reference value for state-owned enterprises in Vietnam.
Chinese-style modernization has built a solid foundation for stable, long-term reform of state-owned enterprises.
Chinese-style modernization is a socialist modernization led by the Communist Party of China that not only has common characteristics of the modernization of other countries but also has Chinese characteristics based on the situation. reality of the country.
Five basic characteristics of Chinese-style modernization are "Modernization with a huge population", "Modernization that makes all people rich", "Modernization that harmonizes material civilization and planetary civilization". God", "Modernization so that people live in harmony with nature", and "Modernization follows the path of peaceful development".
On the road forward, China implements five important principles of Chinese-style modernization: "Persevere and strengthen the Party's comprehensive leadership", "Persevere in following the mainstream path". socialism with Chinese characteristics", "Persisting on the people-centered development ideology", "Persevering in deepening reform and opening up" and "Persevering in promoting the spirit of struggle".
According to the scientific methodology of promoting Chinese-style modernization, promoting Chinese-style modernization is a systematic project that requires comprehensive consideration, systematic planning, and promotion. Overall, properly handle six important groups of relationships: "Between superstructure design and practical exploration", "Between strategy and tactics", "Between integrity and creativity", "Between effectiveness and justice", "Between vitality and order", "Between self-reliance and openness to foreign affairs".
The world view, value view, historical view, civilization view, democratic view, ecological view, etc. and its great practices in the process of Chinese-style modernization are creativity important innovations in the theory and practice of world modernization. Chinese-style modernization is a learning experience for many developing countries moving toward modernization independently and gives them a new choice.
Three changes, six aspects in the reform and development of China's State-owned Enterprises
China's state-owned enterprise reform process has made "three major changes":
First, continue to promote reform of the state-owned enterprise system and build and perfect a modern enterprise system with Chinese characteristics.
Second, continue to promote reform of the management and supervision system of State assets and establish the status of independent market subjects of enterprises.
Finally, continue to promote reform of business operating mechanisms, arousing the vitality and internal motivation of businesses.
As a result, Chinese state-owned enterprises have achieved outstanding achievements in the new era. That is, “one fundamental strengthening”, “two historic solutions”, and “three systemic reshaping” with the following specific results:
"A fundamental strengthening" is that the Party's leadership and construction work are fundamentally strengthened to focus on effectively promoting the link between the responsibility of Party building and the responsibility of business and enterprise promotion. Deeply integrating Party building work with production and business.
"Two historic solutions" are the two issues of equitization reform of state-owned enterprises and the issue of divestment of social/public benefit functions of enterprises that have been resolved historically. Accordingly, China has basically completed the restructuring of all 14.700 central state-owned enterprises and 150.400 local state-owned enterprises, affirming the position of state-owned enterprises as independent market subjects; And across the country, the reform has been completed with the participation of 15 million worker families and 20,27 million retirees. Many state-owned enterprises have completely shed their historical burden and can participate. compete in the market fairly.
The “three systemic reshapings” include:
First, systematically reshape the modern enterprise management structure of state-owned enterprises to unify the Party's leadership and improve enterprise management; so that the Party organization, management board, and board of directors of the enterprise all carry out their tasks and responsibilities according to the law, transparently and effectively coordinate.
Second, systematically reshape the structure of state capital allocation to promote the successful implementation of a series of major strategic restructuring and industry integration according to the principle of marketization. In the past three years, 04 groups including 07 central state-owned enterprises and 116 groups including 347 local state-owned enterprises have carried out strategic restructuring. Tasks such as "cleaning up" and divesting capital from ineffective business fields and lines have basically been completed.
Third, reshape the system of management and supervision of state assets in a systematic way to fully carry out the responsibilities of state-owned enterprise investors, the responsibility of managing and supervising state assets and Responsible for Party building work in state-owned enterprises. Besides, it is also to enhance the advantages of professional, systematic and legal monitoring activities. In addition, it is also to promote coordination with State asset supervision agencies at three levels: Central, Provincial and City.
The continuous deepening of state-owned enterprise reform has strongly promoted the development of state-owned assets and high-quality state-owned enterprises have taken steady steps. As a result, in the ten years of the new era, total state assets tripled, reaching 289 trillion yuan with an average annual revenue growth rate of 5,9%, a growth rate The average annual total return is 7,3% and the average annual total asset growth rate is 10%.
In a new path, on a new journey, China strives to promote reform of state-owned enterprises and continue to develop in depth. China plans a series of new action plans to deepen state-owned enterprise reform in accordance with changes in the situation, focusing on improving core competitiveness and strengthening core functions. Accordingly, China is implementing a series of new actions aimed at serving the national strategy, persistently and trying to help state-owned enterprises develop stronger, better and bigger, effectively promoting their role. strategic support role of the state economy. The focus is to continue to deepen and deepen reform around six aspects:
First, deeper reform revolves around strengthening the industry's leading role and promoting the building of a modern industrial system. That is, we must focus on creating a new development landscape, persistently develop strategic emerging industries and traditional industries in parallel, better plan domestic and international circulation, and promote push state-owned enterprises to achieve high-quality development goals.
Second, profound reform revolves around accelerating scientific and technological innovation by enterprises and efforts to play an important role in technological self-reliance. In order to contribute to building a strong country in science and technology, scientific and technological innovation should be placed in an important position, highlighting the position of the subject of business innovation, and training the strength of scientific and technological warfare. national strategy, creating more valuable scientific and technological innovations than "important national weapons".
Third, deep reform revolves around improving the efficiency of State capital allocation and efforts to promote strategic restructuring and professional integration. “Taking enterprise as the subject and marketization as the means” to highlight main business activities, focus on industry, pay more attention to strong development and specialization, promote concentration and restructuring of State-owned enterprises, advance and withdraw orderly, improve quality and efficiency, promote the reasonable circulation of state capital and optimal allocation of capital.
Fourth, deepening reform revolves around strengthening the market-oriented business mechanism and striving to perfect modern enterprise management of state-owned enterprises with Chinese characteristics. Implemented by solutions to strengthen the building of state-owned enterprise boards of directors, promote the role of Party organizations in enterprise management, and implement a new model business responsibility regime according to the enterprise system modern with Chinese characteristics, establishing a standardized and effective income distribution mechanism.
Fifth, deep reform revolves around improving the management and supervision system of state assets and trying to achieve unity between relaxation and good management. Strengthen the management and supervision of state asset investors, better connect the management and supervision of state assets and enterprise management, and perfect the centralized state asset management and supervision system. Focus on capital management.
Sixth, extensive reform revolves around creating a fair competitive market environment and efforts to promote the common development of businesses of each type of ownership. That is, deeply promote the separation between government and enterprises, separation between government and capital, strengthen the state asset management and supervision system focusing on capital management, and encourage cooperation on Many different fields between state-owned enterprises and other owned enterprises, including foreign-invested enterprises, complement each other in terms of advantages and are mutually beneficial and win-win at a high level. more depth and higher level.
Serving China's process of modernization and opening up to foreign affairs, state-owned enterprises resolutely promote reform, take the open road, innovate, and firmly promote action to deepen and improve. reform state-owned enterprises to achieve the highest results, while creating a solid foundation for China's economic and social development, and also greatly contributing to world economic growth and prosperity.
In fact, a number of Chinese state-owned enterprises have continuously reformed and developed by leaps and bounds, becoming transnational corporations, leading the world in terms of scale, growth and technology in many fields such as High-speed trains, machinery, Lithium batteries, solar cells, construction materials, etc. To achieve the above breakthrough results, Chinese state-owned enterprises have focused on strong, comprehensive, and specific reforms. : build a correct and appropriate development strategy; Strongly develop scientific and technical research, taking technological innovation and creativity as the driving force for long-term development and stable growth; constantly improve corporate value and competitiveness through strengthening strategic cooperation and restructuring and mergers to create and strengthen a solid position; persistently implement internationalization to reach out globally.
Improve the Chinese state asset management and supervision system focusing on capital management
As part of the overall process of state-owned enterprise reform in China, China has built a centralized state asset management model through establishing a system of state asset management and supervision committees in both central and local levels. The main task of the State Asset Management and Supervision Committee is to both perform the investor's duties as authorized and manage and supervise the enterprise's state assets; especially to deeply promote the separation between government and business, the separation between government and property. From the perspective of the relationship between the government and businesses, it is clearly determined that the government will no longer directly operate businesses, will no longer manage businesses by administrative orders and establish the status of the market subject of the business. enterprise. Meanwhile, the separation between government and property means that from the perspective of division of functions within government, the social/public utility management function of government and the responsibilities of property investors Water is implemented by different agencies and departments.
The State Asset Supervision and Management Commission under the State Council of China has three responsibilities:
One is the responsibility of central corporate investors. According to the Company Law, State Assets Law and other regulations, 98 central enterprise groups are authorized by the State Council of China to carry out the responsibilities of investors, enjoy the right to profit from assets, Participate in key decision making and manager selection. Accordingly, the board of directors/board of members of businesses is empowered and 50% of its members are from outside (independent members). The General Director must compete to be appointed for a 03-year term. In case of failure to complete the annual plan, he/she will consider resigning.
Second is the responsibility to supervise state assets. At the national level, supervise and manage state assets of enterprises from the aspects of establishing, urging and implementing as well as guiding and monitoring policies and systems.
Third is to be in charge of Party building work at central enterprises. Implementing regulations on the work of the Communist Party of China's Party Committee and regulations on the grassroots organization of state-owned enterprises, central enterprises are urged to fully carry out the responsibility of Party building.
As a result, thanks to focusing on one focal point, having enough resources, theory, and practice from home and abroad, from China and learning from the West, important areas of the economy and technology are methodical strategic planning and allocation. This model brings into full play its strength, supporting central enterprises to develop production based on advanced management models, applying digital transformation and the latest technologies and techniques, leading the field, accounting for Successfully dominate domestic and foreign markets. By the end of 2022, the overall scale efficiency of central enterprises has achieved results: total assets reached nearly 81 trillion yuan, full-year revenue reached 39,6 trillion yuan, total profits reached 2,6 trillion yuan and tax payments reached 2,8 trillion yuan.
In order to perfect the system of monitoring and managing state assets from central to local levels, in recent times, China has focused on implementing the following five major solutions:
Firstly, promote central enterprises to improve development quality. With specific solutions such as: perfecting the performance evaluation system of central enterprise leaders; Strengthen overall planning in terms of layout optimization and structural adjustment; promote strategic restructuring and integration of expertise; source original technology and stimulate creative vitality.
Second, strengthen supervision of state assets by: building and perfecting a closed system of investor supervision for business supervision activities, comprehensive supervision and prosecution. responsibility; enhance internal and external monitoring and interaction; Strengthen risk monitoring and prevention mechanisms;...
Third, continue to optimize monitoring methods. Supervision methods are introduced and flexibly adjusted according to authority and responsibility, while maintaining supervision according to the law. Besides, actively promote digital surveillance.
Fourth, strengthen guidance and supervision of local state asset management and supervision. The State Council and local people's governments, on behalf of the state, carry out the responsibilities of state investors towards central enterprises and local enterprises, and enjoy the rights and benefits of state investors water. Therefore, many solutions have been implemented such as: clearly defining the organizational structure; organize seminars and training courses; Guide and supervise local state ownership work plans; promote unified coordination of supervision and management regimes; complete the system of contact points for guidance and supervision from central to local levels; Enhance information exchange within the system.
Fifth, guide the work of building laws and managing according to legal regulations of central enterprises. In recent times, according to the overall idea of "building mechanisms, promoting functions, improving and improving", China has continuously issued regulations on central enterprise management in accordance with the law.
Thus, China has implemented good management of state assets at enterprises through building a system of management and supervision of state assets and a legal system on supervision and management of state assets. . In the new era, China continues to set the task of adjusting and accelerating the improvement of the State asset management and supervision system and the legal system on State asset management and supervision to adapt. with the requirement to improve the management and supervision system of State assets focusing on capital management and strengthening the management and supervision of State assets./.
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Reference source:
- The new path of Chinese-style modernization represents a new form of human civilization - Professor Phung Tuan - Former member of the Council of the Central Institute for the Study of Party History and Culture of the Communist Party of China;
- The process of reform and development and reflections of China's State-owned Enterprises – Zhou Xiaoling – China State Assets Supervision and Administration Commission.
- Overview of China's institutional regime for management and supervision of State assets – Policy and Regulation Department of the State Assets Supervision and Management Commission of the State Council of China.
- Strategic transition and internationalization – Chau Duc Tien – Party Secretary and Chairman of the Board of Directors of China Construction Materials Corporation (CNBM).
Dr. Nguyen Van Yen
Member of the Board of Directors, Head of Finance - Strategy Department, VNPT Group
