Exclusive Dialogue with Executive Deputy Director Yin Yisheng from Office of the Leading Group for Comprehensively Deepening Reform of State-owned Assets Supervision and Administration Commission of the State Council (SASAC)

2023-09-21 | Beijing

On 21st September, the European Chamber held an exclusive dialogue with Mr Yin Yisheng, Executive Deputy Director from Office of the Leading Group for Comprehensively Deepening Reform of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Representatives from nearly 50 enterprises, ambassies and associations attended the event. 

The meeting was chaired by the Bruce Fu, the Chair of GA Forum. And European Chamber president Jens Eskelund gave the opening remarks. President Jens noted that the European Chamber and its member companies recognised the importance of SOEs’ role in the Chinese economy and many of member companies have highly effective joint venture partnerships with companies of SASAC and are committed to strengthen cooperation with each other. One good example is some large European multinational companies are permitted to increase their stakes in their joint ventures in China following the lifting of equity caps in the automotive sector. However, concerns still remain such as China’s self-sufficiency drive and market access barriers, which are obstacles to investment growth and domestic development. EU and China need to increase communication and find solutions, the European chamber believes that the combined force of domestic and foreign capital and expertise can accelerate China’s economic recovery and lay the foundation for sustainable high-quality development in the future. President Jens welcomed Mr Yin Yisheng to give speech on major achievements obtained throughout the three-year plan and outlook on SOE reform.

Mr Yin Yisheng thanked the event invitation and opportunity. He first walked the audience through the principles and characteristics of China’s SOE reform and then introduced the main ideas of this new round of SOE’s reform. During his presentation, Mr Yin pointed out that China’s opening up policy remains unchanged. China's state-owned enterprises serve Chinese-style modernisation and China's opening up to the outside world. State-owned enterprises will hold open mindset to all market stakeholders and would like to expand exchanges with FIEs in all respects. In the Q&A session, Mr Yin answered members' queries regarding this new round SOE's reform. 

The exclusive dialogue concludes with the closing remarks given by Bruce Fu. He thanked again for Mr Yin’s attending and looks forward to the regular exchanges with SASAC in the future.