In order to thoroughly implement the Third Plenary Session of the 18th CPC Central Committee and the Fourth Plenary Session of the 10th Municipal Party Committee, emancipate the mind, expand openness, adjust and reorganize, liberalize and revitalize, clean up and exit the "three a batch" as a hand, to regulate business practices, preserve and increase the value of assets, participate in the competition on a level playing field, improve the efficiency of the enterprise, and enhance the vitality of development, Social responsibility as the focus, to further deepen the reform of state-owned enterprises, to manage capital to strengthen the supervision of state-owned assets, is now put forward from 2014 to 2017 the implementation of the reform of state-owned enterprises.

I. Market-oriented, increasing the strategic adjustment of the layout and structure of state-owned capital

1. Implementing categorized supervision in accordance with the functions of different state-owned enterprises. Competitive enterprises, mainly involved in manufacturing, trade and logistics, real estate, finance and other fields. These enterprises are market-oriented, aiming to maximize economic benefits, play a backbone role in the city's economic development, and become industry leaders, taking into account social benefits. The focus is on operational performance indicators and the ability of the main business to sustain development.

Public **** service enterprises, mainly involved in energy, transportation, water and other fields. These enterprises mainly provide public **** products and services to ensure the normal operation and stability of the city, safeguard people's livelihood and maximize social benefits, taking into account economic benefits. The focus is on safety, product quality, cost control and service quality.

Functional enterprises, mainly involved in various types of investment and financing platforms, capital operation platform and other fields. These enterprises aim to accomplish major government special tasks, serve strategic tasks and the real economy, and pursue comprehensive economic and social effects. The focus is on financing capability and risk control.

Differentiated management is implemented for enterprises involved in businesses spanning the above classifications according to the actual situation of the enterprises. The classification of enterprises can be dynamically adjusted.

2. Promote more investment of state-owned capital in important industries and key areas. Accelerate the concentration of state-owned capital from traditional industries to modern manufacturing, modern logistics, finance and other modern service industries, and strategic emerging industries. Further optimize the allocation of state-owned capital in urban infrastructure, energy security, people's livelihood and other areas of resource allocation, focusing on the provision of public **** services, to protect the city's economic security, to protect the ecological environment. By the end of 2017, 90% of state-owned capital will be gathered in important industries and key areas, and the layout of state-owned capital will be gathered in about 40 industries.

3. Promote the layout of state-owned capital to advantageous areas within and outside the country. Adjust the spatial layout of state-owned capital in accordance with the city's overall plan. Continue to promote the relocation and transformation of enterprises to the east. Accelerate the "going out" of state-owned enterprises, promote the layout of state-owned capital to domestic resource-rich regions, to the layout of comparative advantages in the region, to solve the problem of energy and resource shortages, and enhance market competitiveness. Focusing on the implementation of internationalized management and the development of international markets, it promotes cross-border mergers and acquisitions and strengthens joint ventures and cooperation with overseas enterprises.

4. Accelerate the liquidation and withdrawal of disadvantaged enterprises and inefficient assets. Enterprises belonging to the scope of inefficient assets will, in principle, be withdrawn as a whole. Take equity transfer, the introduction of social capital restructuring, mergers, asset and debt restructuring and other ways to realize the liquidation of state-owned assets. For enterprises that are insolvent and have no hope of reversing losses and "shell" enterprises, legal bankruptcy, liquidation and write-off will be adopted to realize the withdrawal of state-owned capital, and the employees will be properly resettled. By the end of 2017, 600 inefficient enterprises exited the market.

Second, accelerate the pace of reorganization and integration, and improve the main body of state-owned capital operations

5. Increase the integration and reorganization of resources at the group level. In accordance with the principle of similar industries, industry-related, the same main business, through mergers, transfers, mergers and acquisitions and other ways to speed up the reorganization and integration, to create the city's advantageous industrial clusters and urban competitiveness of the core carrier. By the end of 2017, the group adjusted to about 35, the formation of more than 10 brand superior, good efficiency, industry-leading large enterprise groups.

6. Increase the reorganization of competitive enterprises. Around the improvement and enhancement of the industrial chain, the development of advanced manufacturing, modern service industry and strategic emerging industries, relying on key groups, promote resource integration, accelerate the construction of the main business of strong innovation, capital operation ability, overall competitiveness of large groups. For groups with linked industrial chains and related value chains, they should accelerate to become the main body of market competition and improve resource allocation capacity and control ability. For groups whose industrial chains are not closely connected and whose value chains are not highly related, they should be gradually built or formed into state-owned capital investment companies. By the end of 2017, we will strive for two to three groups to enter the world's top 500.

Cultivate leading financial enterprises. Integrate high-quality resources, increase the investment of state-owned capital, support the sound and rapid development of banks, trusts, insurance, securities and other local financial enterprises, and create one to two banks with assets of more than one trillion dollars.

7. Accelerate the integration of public **** service enterprises. Around the enhancement of urban capacity and the ability to serve people's livelihoods, to promote the integration of energy, transportation, water and other areas of resources, to cultivate a well-functioning, strong protection, sustainable development of the large group, with conditions can be reorganized into a state-owned capital investment company, and actively fulfill their social responsibilities, play a leading role in the demonstration.

8. Make functional enterprises stronger. Focusing on serving the real economy and improving urban infrastructure, we will build state-owned capital operation companies or state-owned capital investment companies with efficient operation and prominent role, absorb social capital, and build platforms and bridges for cooperation between state-owned capital and non-public capital.

Bigger capital operation platform. Coordinate the two markets and two kinds of resources at home and abroad, increase equity operation, capital operation and asset reorganization, enhance financing, especially the ability to go public, and support the reform and development of state-owned enterprises.

Strengthen the industrial investment and financing service platform. It provides a full range of financial services such as credit, investment, financing and guarantee for major industrial projects and scientific and technological "small giants", accelerates the integration of production and financing, and boosts industrial upgrading.

To optimize the infrastructure investment platform. It will refine the functions of urban infrastructure investment, streamline the main business, optimize the capital structure, reduce the financing cost, enhance the capital strength, innovate the financing method, prevent the systematic risk, improve the sustainable development ability, enhance the market-oriented operation level, and play a key role in the urban infrastructure field.

Third, deepen the corporate shareholding system reform, and actively develop mixed ownership economy

9. Classification and stratification to promote shareholding system reform. In addition to a few companies undertaking policy functions and special purposes, state-owned enterprises should actively attract various types of social capital, carry out property rights diversification reform, and actively develop mixed ownership. Efforts will be made to promote the shareholding system reform of secondary core and backbone enterprises, leading to the comprehensive liberalization and revitalization of tertiary enterprises and the following, and forming a graded development pattern of tertiary enterprises that are strong in the first level, active in the second level, and specialized in the third level. By the end of 2017, more than 80% of the core backbone enterprises have realized equity diversification, of which mixed ownership accounts for a larger proportion. Compressing the chain of property rights. Through equity transfer, merger, transfer and other means, clean up and integrate enterprises below the third level. In the end, the Group's corporate management level is basically controlled within three levels, and the cleanup and integration work is completed.

10. Optimize the state-owned equity structure. Each group company should further clarify the capital layout planning, determine the core backbone enterprises and control methods. According to the functional positioning of different state-owned enterprises, gradually expand the opening up of property rights, maintain a suitable proportion of state-owned equity, and decentralize the management of property rights. For core and backbone enterprises in areas such as providing important public **** products and important livelihoods, state-owned capital maintains a controlling stake. For core and backbone enterprises in advantageous pillar industries and the financial industry, state-owned capital can be relatively controlled. In addition to other enterprises, all state-owned equity liberalization, in accordance with market rules, orderly entry and exit, reasonable mobility.

11. Introducing various types of social capital to actively develop mixed ownership enterprises. Accelerate the pace of capitalization of state-owned assets, focusing on the introduction of foreign capital, private, institutional investors and other social capital, in terms of capital, technology, market, management and other aspects of strengthening strategic cooperation, through the capital-to-capital, the realization of state-owned capital and non-public capital cross-shareholding, mutual integration, to create a number of new systems, mechanisms, market competition advantages of mixed ownership enterprises. Encourage private investment bodies to participate in the restructuring and reorganization of state-owned enterprises through capital investment, acquisition of equity, subscription of convertible bonds and other forms. Different investment bodies can *** with the establishment of equity investment funds, to participate in the restructuring and reorganization of state-owned enterprises, *** with the investment advantage of pillar industries, strategic emerging industries, foreign investment. Actively explore mixed ownership economy to implement enterprise technology and management backbone shareholding, the formation of capital owners and labor interests **** the same body.

Four, accelerate the securitization of state-owned assets, the use of the capital market to expand and strengthen the advantageous enterprises

12. The use of domestic and foreign multi-level capital market to promote the listing of enterprises. Compared with the requirements for listing, promote the standardization of listed enterprises to form a joint-stock limited company, and reasonably set the size of the share capital and equity ratio. Actively promote enterprises with listing conditions to take the first, shell, spin-off and other ways to realize the domestic main board, small and medium-sized boards, the Growth Enterprise Board, as well as overseas capital market listing. Integrate high-quality assets within and outside the Group, inject them into listed companies by way of share issuance and allocation, asset replacement, acquisition, etc., realize the overall listing of core business assets, and create listed companies with good development prospects, excellent asset quality and high profitability level. Promote the integration of listed companies with poor asset quality, unremarkable main business and poor profitability, and increase the efforts of asset and business reorganization and debt disposal to improve the operating performance of listed companies. By the end of 2017, key groups will have at least one listed company, and the securitization rate of operating state-owned assets will reach 40%.

13. Strengthen the equity operation of listed companies. While strengthening product operation, state-owned enterprises should make good use of the platform of listed companies to strengthen capital operation and realize the double-wheel drive of product operation and capital operation. According to the capital market conditions and the needs of strategic development of enterprises, under the premise of maintaining a reasonable proportion of state-controlled shareholders of listed companies, and actively explore the use of share increase or decrease in shareholdings, issuance of additional shares, convertible bonds and other means to strengthen the equity operations of state-controlled listed companies, to provide financial support for the development of the industry.

V. Implementation of innovation-driven development strategy to enhance the core competitiveness of state-owned enterprises

14. Strengthening of scientific and technological innovation. Increase investment in R&D, industrial enterprises R&D investment rate gradually increased to 3%, science and technology-based enterprises gradually increased to 5%, strategic emerging industries gradually increased to 6%. Strengthen the assessment of enterprise science and technology innovation, science and technology investment and innovation results included in the performance appraisal objectives of the person in charge of the enterprise. Build an open R&D platform, increase the integration of scientific and technological resources and R&D platforms within the Group, and encourage enterprises to acquire external R&D resources through cooperative R&D, commissioned R&D, mergers and acquisitions. Jointly establish scientific research collaboration platforms and industrial innovation alliances with universities, research institutes and central enterprises, and focus on breakthroughs in a number of industrial *** technologies and key core technologies. Improve the market-oriented mechanism of scientific and technological innovation, and promote the capitalization and industrialization of enterprises' scientific and technological innovation achievements. Encourage enterprises to develop and protect independent intellectual property rights, and promote industrial transformation and upgrading. To do a good job of well-known brands and expand the influence of the brand.

15. Strengthen enterprise management and business model innovation. Strengthen basic management, deepen benchmarking management, implement lean management and performance excellence management, draw on the management experience of first-class enterprises at home and abroad, and promote standardized, intensive, refined and information-based management of enterprises. Strengthen the unified management of finance, the unified deployment of funds and the unified allocation of resources, and establish finance companies, leasing companies, offshore trading companies and asset management companies for groups that are in a position to do so. Strengthen business model innovation, actively explore business models such as service-oriented manufacturing, green supply chain, e-commerce, new financial services and provision of integrated solutions, and enhance the ability to create value.

16. Strengthen the construction of innovative talents. Accelerate the construction of "three-level, 1,000-person-scale" innovative talent echelon of scientific and technological leaders, technical talents and senior management talents. Establish incentive mechanisms and fault-tolerance mechanisms to encourage reform and innovation. Talents who have made significant contributions to enterprise science and technology and management innovation will be rewarded. For reform and innovation failed to achieve the expected goals, but diligently and conscientiously, and did not make personal gains, no negative evaluation.

Sixth, to promote state-owned enterprises to improve the modern enterprise system, reform and innovation of institutional mechanisms

17. Improve the coordinated operation, effective checks and balances of the corporate governance structure. In accordance with the requirements of the Company Law of the People's Republic of China and the Law of the People's Republic of China on State-Owned Assets of Enterprises, we will promote the establishment of a sound shareholders' meeting, board of directors, board of supervisors and management layer. Accelerate the construction of standardized boards of directors in wholly state-owned companies, and introduce outside directors in all of them within three years. In competitive enterprises, the number of outside directors will gradually become larger than that of inside directors. Explore the implementation of a system for appointing financial directors. In mixed ownership enterprises, state-owned capital contributors shall improve the board of directors of state-owned absolute holding companies, and propose candidates for directors and supervisors to relatively holding or participating enterprises in accordance with laws and administrative regulations as well as the provisions of the enterprise's articles of association. Strengthen the effective supervision of the supervisory board. Build a lean and efficient corporate governance structure. Streamline the Group's board of directors and operating layer, with the board of directors (including outside directors) generally consisting of five to seven members, and the chairman of the board being the legal representative and, in principle, the secretary of the Party committee. The operating layer is in principle limited to 5 persons (excluding the chief economist, chief accountant and chief engineer). For smaller enterprises, according to the articles of association, there can be one executive director without a board of directors, and the executive director is the legal representative and also serves as the general manager, separate from the secretary of the Party committee. The chairman and general manager of the group shall not concurrently hold positions in subordinate companies.

18. Implement market-oriented selection and employment mechanisms. Explore management systems and management methods that meet the characteristics of business managers, and implement a more market-oriented selection and exit mechanism. Reasonably increase the proportion of market-oriented selection and hiring, gradually implement the professional manager system, and better play the role of entrepreneurs. Deepen the reform of the system that allows internal managers to move up and down, employees to move in and out, and incomes to increase and decrease.

19. Establish long-term incentive and restraint mechanisms. Accelerate the establishment of an appraisal and evaluation system conducive to the transformation of the development mode of enterprises, and play a guiding role in the performance appraisal of enterprise operators. Strengthen the categorization of appraisal, set up appraisal indicators in a scientific and reasonable manner, and highlight value creation, independent innovation, energy conservation and emission reduction. The results of the appraisal will be used as an important basis for honoring the remuneration of the business operators, cautioning and talking to them, assessing their tenure of office and reorganizing the enterprises.

Promoting the reform of the remuneration management system of enterprise operators. Improve the compensation management mechanism of "emphasizing performance, talking about returns, strong incentives, and hard constraints". For boards of directors with sound systems and standardized operations, SASAC no longer directly decides on the business performance assessment and remuneration of their senior management personnel, which are decided by the board of directors of the company in accordance with the relevant provisions of SASAC. For the remuneration of senior management personnel selected and recruited on a market-oriented basis, it may be determined in a negotiated manner in accordance with the talent market and the situation of the Company. For administratively appointed senior managers, the remuneration level, job treatment, job consumption and business consumption shall be reasonably determined and strictly regulated in accordance with the principle of "two lower and two linked".

Strengthening the assessment of the integrity behavior of business operators. Combined with the assessment of business performance, strengthen the economic responsibility audit, improve the report on major matters, duty reporting, democratic evaluation and integrity talk system. The implementation of the responsibility system for the construction of honest and clean party politics, the business operator corruption, the implementation of the "one-vote veto", and hold accountable.

Establishing and improving the long-term incentive and constraint mechanism for the core and backbone personnel of enterprises belonging to the Group. For enterprises implementing the professional manager system, it gradually realizes the income distribution of senior management personnel in line with the market level. State-controlled listed companies that meet the statutory conditions, have clear development goals and the ability to refinance may implement equity incentives for core and backbone personnel. In science and technology-based small and medium-sized enterprises (SMEs), they are actively exploring the implementation of various incentive methods, such as stock options and job dividend rights, for core and backbone personnel. Establishment of performance linkage, financial auditing, information disclosure, deferred payment, recovery and other constraints in conjunction with the long-term incentive mechanism.

20. Improve the effective supervision mechanism of state-owned assets. Respect the main position of enterprises, follow the laws of enterprise development, support enterprises to make decisions and operate in accordance with the law, and do not interfere with the normal business activities of enterprises. Taking property rights management as a link, strengthen the supervision of major matters, and decentralize management authority to enterprises with a sound corporate governance structure. It will implement tenure appraisal and contractualized management of enterprise leaders, and increase the appraisal and supervision of enterprise leadership teams and key persons in charge. Improve the system of regulations and systems for the supervision of state-owned assets, and promote local legislation. It will improve the supervision of major enterprise matters and explore effective ways to supervise state-owned equity and assets of joint-stock and mixed-ownership enterprises. It will strengthen post-investment evaluation and financial audit supervision, and enhance accountability for the operation and investment of state-owned enterprises. Improve the state-owned capital operation budget system covering all operating state-owned enterprises, give full play to the leading role of the state-owned capital operation budget in promoting reform and adjustment and scientific and technological innovation, and gradually increase the proportion of state-owned capital gains to be paid in, by 1 percentage point per year. The proportion of state-owned capital gains used to enrich the social security fund will be gradually increased from 50 percent to 65 percent. Strengthening the management of state-owned property rights. Improve the social stability risk assessment mechanism for major matters relating to the reform of state-owned enterprises.

21. Give full play to the political core role of Party organizations in the reform and development of state-owned enterprises. Actively explore ways to effectively integrate the modern enterprise system with the political core role played by Party organizations and the democratic management of employees. In promoting the reform of state-owned enterprises, the Standing Committee of the Party Committee of an enterprise (or members of the Party Committee of an enterprise that does not have a Standing Committee) shall be allowed to hold cross-posts with members of the board of directors and the managerial team, and further standardize the contents, procedures and ways in which the Party organization participates in decision-making, dominates the employment of personnel, takes the lead in implementation and ensures supervision, so as to improve the system and mechanism of the Party Committee's playing a central role in politics. When promoting the reform of shareholding system and mixed ownership system, the Party organization intervenes in the study and formulation of reform plan in advance, establishes and withdraws the Party organization in a timely manner in accordance with the actual change of the enterprise's institutional structure, straightens out the relationship between the Party organization, and carries out the Party's work in a synchronized manner. Strengthening advanced education, training, discipline and accountability, and constantly improving the effectiveness of party organizations and party members. Strengthen the ideological and political work, ahead of the ideological leadership, cohesion reform **** knowledge, fully mobilize the staff to support the reform, participate in the reform of the enthusiasm.

22. Improve various supporting policies and measures. Improve the reform of state-owned enterprises involved in business registration, fiscal management, land transfer, labor security and other aspects of the policy provisions to optimize the policy environment. Accelerate the establishment of a stable, reliable, reasonably compensated, open and transparent mechanism for compensating enterprises for public ****service expenditures, and establish a reasonable compensation mechanism for policy losses of enterprises. Improve the supporting policies for the exit of state-owned enterprises, and properly deal with related issues including personnel resettlement, medical and pension insurance succession.