政府新闻
上海将加强上市公司市值管理监管 2024-02-04
Shanghai will promote the market value management of state-owned listed companies as part of its ongoing reforms of state-owned enterprises, so as to enhance supervision and improve core competitiveness, according to the head of the city's state-owned assets supervisor.
Shanghai will promote the market value management of state-owned listed companies, He Qing, director of the Shanghai State-owned Assets Supervision and Administration Commission, said at a conference last Thursday.
Market value management requires businesses to maximize their value through improvements in corporate governance, such as financial systems and internal controls. This reinforces the link between stock prices and the valuation of the company and better serves the interest of shareholders.
SASAC will consider incorporating market value management into the performance assessment of leaders of central enterprises, Xie Xiaobing, director of the SASAC Property Rights Management Bureau, said on Jan. 24.
This will further motivate central and state-owned enterprises to actively engage in market value management, thereby reshaping their valuation systems, Zhongtai Securities said.
Shanghai will also enhance the technological innovation capabilities of state-owned enterprises, optimize the layout of state-owned assets, vigorously develop emerging industries and drive the high-end, intelligent, green and integrated development of traditional industries, He said.
The city will optimize state-owned asset supervision, strengthen dynamic monitoring in key areas and address existing risks, He said. Shanghai aims for the main gauges of state-owned assets and enterprises to grow over 5 percent this year, he added.
Shanghai’s state-owned enterprises logged a 3.4 percent jump in gross profit from the year before to CNY262.9 billion (USD36.6 billion), while net profit stayed flat at CNY168.5 billion. Revenue climbed 0.8 percent to CNY3.6 trillion (USD508.4 billion). And their total assets gained 4.2 percent as of the end of last year to CNY29 trillion (USD4 trillion).
Source: Yicai Global
