2015年CRI Reform of State-owned Enterprises Remains Major Topic in Development Plan

 

Deputy Director with Shanghai State-Owned Capital Operational Research Institute Yang Jianwen says the key for SOE reform in the next five-years lies in being able to cope with China's slowing economy.

"The 13th five-year plan is a mid-term plan, but we have a short-term target, which is to steer¹ the economy out of a slump². Still, we also have to prepare a long-term economic plan. That will depend on companies to demonstrate that they have the energy to revive the economy. State-owned companies need to improve their internal management structure, and also beef up their external competitiveness. I think these reforms will advance further in the 13th five-year plan period."

Yang says the major reform sectors³ will be in high-tech⁵ and manufacturing as they are of great importance for boosting China's ability to compete globally.

In September, China introduced its guidelines for the next stage of SOE reforms.

However, only over a dozen state-owned enterprises (SOE) in Shanghai have started reform programs this year.

Chief Economist⁶ with Orient Securities Shao Yu says more motivation is needed for companies in Shanghai to step up their reforms.

"So far the motivation for either the SOEs or the local governments to reform is still relatively⁷ weak, because there will be some risks if you push the reforms on a larger scale too fast. We can see the companies and local officials are very cautious about how they are going about it."

Shao adds that the refrom can be accelerated by carrying out more specific mechanisms⁸.

"I think we should have more specific mechanisms for rewards and punishments. Those who don't do anything or who do little to help improve their company's performance should be penalized⁹ as they failed to properly carry out their duties. I think that would help accelerate the reform process."

The Chinese economy expanded 6.9 percent year on year in the third quarter of 2015, the first time the quarterly growth rate has dropped below 7 percent since after the global financial crisis in 2009.

It's being reported SOEs account for at least 30 percent of China's total GDP. Some estimates put the share as high as 45 percent.

Experts say reforms in state-owned enterprises and the financial sector⁴ will give a fresh push to the Chinese economy.

For CRI, I'm Victor Ning.

1 steer   

vt.驾驶，为…操舵；引导；vi.驾驶

参考例句：

• If you push the car, I'll steer it.如果你来推车，我就来驾车。
• It's no use trying to steer the boy into a course of action that suits you.想说服这孩子按你的方式行事是徒劳的。

2 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

3 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

4 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

5 high-tech   

adj.高科技的

参考例句：

• The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
• The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。

6 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

7 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

8 mechanisms   

n.机械( mechanism的名词复数 )；机械装置；[生物学] 机制；机械作用

参考例句：

• The research will provide direct insight into molecular mechanisms. 这项研究将使人能够直接地了解分子的机理。 来自《简明英汉词典》
• He explained how the two mechanisms worked. 他解释这两台机械装置是如何工作的。 来自《简明英汉词典》

9 penalized   

对…予以惩罚( penalize的过去式和过去分词 )； 使处于不利地位

参考例句：

• You will be penalized for poor spelling. 你拼写不好将会受到处罚。
• Team members will be penalized for lateness. 队员迟到要受处罚。