On the afternoon of July 20, the 2018 Mid-year Work Conference of Shanghai International Group (SIG) was held. Yu Beihua, Secretary of the CPC SIG Committee and Chairman of the Board of Directors presided over the conference. At the conference, Yu delivered a work report on Party building in the first half of this year. Fu Fan, Vice Secretary of the CPC SIG Committee and President of SIG delivered the half-year business report. Zhang Guohong, Chairman of the Board of Supervisors and Gu Jianzhong, Vice President of SIG attended the conference.
In the first half of 2018, the CPC SIG Committee implemented Xi Jinping's thought on socialism with Chinese characteristics for a new era, the spirit of the 19th CPC National Congress, the spirit of the 3rd and 4th plenary sessions of the 11th CPC Shanghai Municipal Committee and the work arrangement of the Party Committee of the Shanghai Assets Supervision and Administration (Shanghai SASAC), gave play to the role of Party organizations as leading and political core, performed the principal responsibility for Party building, improving Party’s work style, building a clean government, promoted the deep integration of Party building with corporate development, and provided strong guarantee for fulfilling the important tasks assigned by the CPC Shanghai Municipal Committee and the Shanghai Municipal People's Government.
In the first half of 2018, according to the work requirements of the Shanghai Municipal Committee, the Shanghai Municipal People's Government and Shanghai SASAC, with a view to enhancing Shanghai's capacity and core competitiveness, SIG has focused on two primary businesses: state-owned asset operation and investment management, implemented its three-year action plan and annual business plans, and advanced work smoothly. SIG registered total assets of 249.524 billion yuan for the consolidated financial statements (unaudited, same below), net assets of 180.393 billion yuan, an asset-liability ratio of 27.71 percent and a total profit of 2.66 billion yuan as of late June 2018, achieving the goal of fulfilling half of the work halfway.
The conference called for efforts to fulfill the work for the second half of the year, unify thoughts and action on the work requirements of the CPC Shanghai Municipal Committee, the Shanghai Municipal People's Government and Shanghai SASAC, consciously submit to and serve the overall interests, and keep achieving new breakthroughs. Relevant departments should further improve the level of serving major national and municipal strategies, initiatively advance the reform of the function of the state-owned asset operation platform in depth, initiatively explore and optimize the layout of state-owned assets, comprehensively strengthen the active investment of the SIG system, continue to strengthen risk prevention and continue to improve the level of Party building of SIG. The conference also required that all cadres and staff should practically enhance the awareness of benchmarking, the awareness of innovation and the awareness of action, and work steadily, practically and enthusiastically, to ensure the fulfillment of the annual work.