On June 5, the State-owned Assets Supervision and Administration Commission ("SASAC") of the State Council released the Directory of Outstanding Cases for SOEs' Value Creation Actions in Benchmarking Against World-Class Companies. The reform experience and achievement of CYPC (a subsidiary of CTG), titled "Upholding the Mission, Creating Values and Working to be the Vanguard in Implementing National Strategies", was selected as an outstanding case in the field of "Implementing National Strategies".
The current outstanding case solicitation activity was organized by the SASAC. It aims to thoroughly implement the guiding principle contained in President Xi Jinping's important instructions on accelerating the construction of world-class enterprises, focusing on the "five values" leadership to enhance the core functions and competitiveness of state-owned enterprises ("SOEs"). The activity targets six major areas: improving efficiency and effectiveness, pursuing innovation-driven development, implementing national strategies, enhancing governance effectiveness, accelerating sustainable development, and promoting joint construction and sharing. Finally, 40 outstanding cases that are both representative and highly innovative were selected nationwide.
In recent years, CYPC, the largest power listed company in China and the largest hydropower listed company in the world, has actively served major national strategies. It has deeply integrated into the development of the Yangtze River Economic Belt, earnestly implemented the carbon peaking and carbon neutrality goals and the Belt and Road Initiative, and insisted on using reform and innovation to solve the challenges of high-quality development. Its reform achievement has been highly recognized by the SASAC. It has successively been rated by the SASAC as a benchmark enterprise in the creation action of key SOE management, a model enterprise in SOE governance, and for three consecutive years it has received the "benchmark" evaluation in SASAC's special assessment of "Double Hundred Enterprises". It has played a good exemplary and leading role in deepening the reform of SOEs.
In the future, CYPC will keep focusing on deepening the SOE reform as the key approach, boost joint construction and sharing, and speed up the creation of a world-class clean energy listed company with hydropower at its core. It will strive to make new achievements in safeguarding national energy security and driving green, high-quality development.
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