East China’s Jiangsu province has spared no efforts in recent years to promote high-quality development of state-owned assets and state-owned enterprises.
At a recent meeting, the construction machinery division team of Jiangsu Financial Leasing Company was seen analyzing and discussing the new project.
In January and February, the company has signed more than 40 contracts to provide 700 million yuan of financial support for construction companies of key projects such as the Sichuan-Tibet Railway and the reconstruction and expansion of the Shanghai-Shaanxi Expressway through equipment leasing.
The team, which was formed in 2021, averages 29 years old. In addition to the financial background, many of them also have qualifications such as lawyers, certified public accountants, and constructors.
Heng Heng, General Manager of Construction Machinery Division of Jiangsu Financial Leasing Co., Ltd. said,"I competed for this job. All colleagues devote themselves to the transportation construction and engineering construction industry through the company's two-way selection system. Our income comes from the team's performance in the market which is closely related to risk control. Our business volume has doubled about a year after the team was formed.
Jiangsu Financial Leasing has established professional teams for high-end manufacturing, new energy, medical and health and other segments to provide financial services.
In order to fully mobilize the enthusiasm of employees and stimulate the vitality of talents to the greatest extent, the company has carried out 9 rounds of "double selection of positions" in recent years, and established contractual management, differentiated compensation, equity incentives and other mechanisms.
At the beginning of this year, the company was awarded the "State-owned Enterprise Corporate Governance Demonstration Enterprise" by the State-owned Assets Supervision and Administration Commission of the State Council.
Xiong Xiangen, Chairman of Jiangsu Financial Leasing Co., Ltd. said, "Financial leasing is an industry with a high degree of marketization and high risks, so the requirements for talents and governance are relatively high. In recent years, we have gradually formed a corporate governance structure that meets the requirements of the modern enterprise system and promotes the healthy development of the company. We continue to promote the three system reforms, stimulate the vitality of talents, enhance the company's innovation ability and market competitiveness, and contribute to serving the real economy.
A series of measures represented by the reform of labor, personnel, and distribution systems are the important contents of the three-year reform of state-owned enterprises.
As of the end of January, 23 provincial enterprise groups and 1,021 subsidiaries at all levels have all implemented the tenure system and contractual management of managers.
Jiangsu has completed 138 reform tasks included in the three-year action plan for state-owned enterprise reform, ranking at the forefront of the country.
The vitality brought about by the reform has been directly transformed into a driving force to fuel the innovation momentum and operation quality and efficiency of state-owned enterprises for significant improvement.
Wuxi No. 1 Cotton Textile Factory has continuously improved its corporate governance structure, improved its scientific decision-making level, and made great strides on the road of digital transformation. The company achieved revenue of 2.3 billion yuan in 2021, a year-on-year increase of 21%.
Zhou Yejun, Chairman of Wuxi Yimian Textile Group Co., Ltd. said, "Through so many years of management innovation and the promotion of intelligent manufacturing, we have increased production capacity by more than 37%, operating efficiency by more than 22%, and the number of intelligent production lines has reached less than 10 people which has reached the international leading level.
Jiangsu's state-owned enterprises will continue to make efforts in the new corporate governance mechanism, promote a more pragmatic and effective market-oriented operation mechanism, boost the optimization and structural adjustment of state-owned capital in a bid to achieve positive results in the fields of asset restructuring and integration, serving and safeguarding people's livelihood, and strengthening the cooperation between central and local state-owned enterprises.
