China Financial Daily

SASAC of the State Council held a meeting of heads of central enterprises
SASAC of the State Council held a meeting of heads of central enterprises, the work of summing up the first half of 2009 to announce the 2008 annual performance evaluation results of the central enterprises to analyze the current economic situation, the deployment of the second half of the work in 2009. SASAC director Li Rongrong party secretary, attended the meeting and delivered an important speech.

Li Rongrong pointed out that the first half of 2009, the central enterprises to seriously implement the central macro-control policies and to address the financial crisis package to overcome the difficulties, down-to-earth work, production and management to maintain the smooth operation of the overall situation. Revenue decline has been checked; slow economic decline; profit chain costs rise steadily.

Li Rongrong pointed out that the first half of 2009, the central enterprises to thoroughly study and practice the scientific concept of development activities as an opportunity to focus on the level of scientific development, in close connection with reality, to calmly deal with the crisis, the positive progress made. First, a positive response to financial crisis, in their efforts to open up the market to maintain the normal operation of production and management, fine management reducing efficiency and prudent investment in exercising strict control over risks, such as the stability of the ranks of the promotion of employment has played a key role in the state-owned economy; Second, adjust and optimize focus, through deepening reform, structural adjustment, technological innovation, “going out” strategy, all the work to take new steps; The third is to learn down-to-earth practical activities to promote, strengthen the confidence of a clear direction to improve the measures for the central enterprise of science lay a solid foundation for development.

Li stressed that the current economic situation, the central enterprises must always remain sober-minded. First, there should be new progress in corporate governance; second is to do a new organizational structure adjustment; Third, there should be new enterprise information system upgrades; Fourth, there should be new staff to improve the quality. To deal with financial crisis as an opportunity to timely adjust the enterprise development strategies, organizational structure and product mix, upgrading the technological level and management capacity, so that the competitiveness of enterprises referred to a higher level of facing the future with a higher level, a higher level, more intense competition.

SASAC Director: central revenues decline rate initial containment
According to CCTV’s “News 30″ program information, the State Council, the SASAC Director Li Rongrong said in public today, the first half of this year, at the national series of macro-control policy, the central enterprises down the momentum of rapid economic growth has been the initial containment, positive factors in economic operation, increasing the momentum to stabilize the increasingly obvious pick-up.

According to the SASAC website up-to-date data show that in June, the central enterprises to achieve operating income month 1172.59 billion yuan, up 23.2% Central, an increase of 2.4%. January to June, the central enterprises to achieve a total revenue of 5361.17 billion yuan, up 6.3 percent decline, decline in the first quarter narrowed 2.8 percentage points; in all central enterprises, a total operating income up 74 enterprises, accounting for 54.8% .

Month in June realized a total profit of central enterprises 75.19 billion yuan, up 29.5 percent, Central. January to June, the central enterprises amounted to a profit of 316.03 billion yuan, 112.28 billion yuan year-on-year reduction, down 26.2 percent, than in the first quarter fell 15.6 percent to narrow; in all central enterprises, an increase of the accumulated profits of 67, accounting for 49.6%, than in the first quarter increased 17.

In addition, during the first half, the central enterprises and efficiency in the operating income fell more sharply, the accumulated taxes and fees to pay 523.68 billion yuan, up only 1.5 percent decline, in which an additional sales tax and an increase of 17%.