Beijing Hosts the Second BRICS Forum on SOE Reform and Governance
On the 21st and 22nd of September, the Second BRICS Forum on SOE Reform and Governance, organized by State-owned Assets Supervision and Administration Commission of the State Council (SASAC) with the assistance of State Grid Corporation of China (SGCC) and China Communications Construction, was held in Beijing. The Chinese delegation carried out in-depth and extensive discussions and shared experience and best practices with Brazilian, Russian, Indian and South African delegations on the theme of ¡°SOE Governance and Development¡±. The forum proposed a blueprint for future development and opened a new chapter in practical cooperation. State Councilor Wang Yong attended the opening ceremony and delivered a speech. Xiao Yaqing, head of the Chinese delegation and Chairman of State-owned Assets Supervision and Administration Commission of the State Council, chaired the opening ceremony and ViceChairman of State-owned Assets Supervision and Administration Commission of the State Council, Wang Wenbin, attended the forum and delivered a speech.

ShuYinbiao, Chairman of SGCC, attended the opening ceremony and delivered a keynote speech entitled Becoming Stronger, Better, and Bigger Through Innovation on the topic of ¡°Innovation and Structural Adjustment of State-owned Enterprises¡±.

Wang Yong pointed out that President Xi Jinping delivered an important speech at the BRICS Xiamen Summit, emphasizing the start of the second ¡°golden decade¡± for BRICS cooperation. BRICS SOEs have huge potential for further cooperation and should therefore take the initiative to make full use of the BRICS¡¯ complementarity of industrial structure and resource reserves to promote institutionalized, practical, and high-quality cooperation. They should also take the initiative in deepening SOE reforms and improving corporate governance to actively explore effective and practical SOE governance structures and supervision models according to their actual situations. In addition, they should take the initiative in creating a fair and just environment for market competition to help SOEs play a larger role in promoting sound and sustainable economic growth for the BRICS and the global economy as a whole and create new momentum for ushering in the second ¡°golden decade¡± of BRICS cooperation.

Xiao Yaqing told the audience that state-owned enterprises, especially central SOEs, are mainly distributed in key industries and sectors of great significance to national security, national economy, and the wellbeing of citizens. Therefore, they should be the pioneers in the industries and sectors they belong to. By comprehensively enhancing reforms, Chinese SOEs have gradually shifted to a market-oriented development model with greater momentum and dynamism. The state-owned assets supervision and administration departments of BRICS countries should form a consensus and strengthen communication and exchange to enable SOEs to play a larger role in economic development and BRICS cooperation. In addition, BRICS countries also need to create an open, just, and fair market for all types of enterprises to compete with each other on a level playing field, so as to effectively promote the independent operation, fair competition, mutual-learning, and common development of all businesses.                                                                                                                                                                                                                                                                                                                                                                                                     

In his keynote speech, ShuYinbiao pointed out that innovation makes a company stronger and a country stronger. Therefore, SGCC has always regarded innovation as the primary driver of development and a core corporate value. The company has promoted innovation throughout its business operations and expansions with fruitful results achieved. In line with the trend of energy transition and transformation, SGCC has focused on making breakthroughs in grid technologies through independent innovation. It has already made a series of world-leading technological innovations in UHV power transmission, smart grids, and large grid operation and control. For example, SGCC developed the world¡¯s most advanced UHV technology, which allows the power transmission distance of a single line to exceed 3,000 km. Currently, SGCC operates the world¡¯s largest grid in terms of energy resource allocation capabilities and installed capacity of renewable energy. At present, its installed capacities of wind power and PV power are up to 140 GW and 110 GW respectively, more than that of any other country in the world. At the same time, SGCC is also one of the best grids in the world in terms of safe operation.

According to ShuYinbiao, SGCC has been vigorously exploring new markets and expanding into new businesses to make itself stronger, better, and larger. It has enhanced its international influence by promoting technological innovation. SGCC promoted the development of smart grids and has now installed 430 million smart meters and launched the ¡°Electricitye-Pay (Dian e Bao)¡± online electricity purchasing and service platform, which serves more than 200 million registered users. In addition, SGCC has been actively developing electric vehicle (EV) services to promote the development of the EV industry in China. It operates the world¡¯s largest and most comprehensive smart internet of vehicles. At the same time, it is actively promoting the replacement of coal with electricity for heating in North China to improve air quality. Currently, with new industrial and energy revolutions underway, energy utilities are faced with unprecedented opportunities for innovation. In the future, SGCC will actively learn from the experiences of foreign companies and continue to make ceaseless efforts to drive innovation, so as to provide momentum for the continuous and sound development of the company.

At the parallel forum on the energy sector held by SGCC on September 22nd, Wang Min, Executive Vice President of SGCC, delivered a speech entitled Promoting the Building of Global Energy Interconnection to Speed up the Transition to Green and Low-Carbon Energy. In the speech, Wang Min said that building GEI to significantly optimize energy and resource allocation is an inevitable solution for achieving green and low-carbon development. State-owned energy enterprises in BRICS countries have much to do in promoting the energy transition and, therefore, need to strengthen cooperation in technical standards, speed up connectivity development, and deepen investment cooperation.

Zhu Guangchao, DeputyChief Engineer and Director General of Department of International Cooperation of SGCC, chaired the parallel forum attended by more than 100 representatives from BRICS countries.

During the forum, heads of delegations of the five BRICS countries jointly issued the ¡°Consensus on BRICS SOE Governance¡±. All parties agreed that promoting SOE reform and development is a shared task of the BRICS and that promoting mutually-beneficial cooperation among SOEs is an important aspect of enhancing cooperation among BRICS countries. To this end, the BRICS need to strengthen communication and exchanges and deepen practical cooperation.

On the afternoon of September 21st, delegates attending the forum visited National Power Dispatching and Control Center.

Source: Department of International Cooperation of SGCC, State Grid News

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