On January 15, 2017, 2017’ Annual Working Conference of China National Chemical Corporation (ChemChina) was grandly held in Beijing. This conference was mainly aimed to sum up work achievements of 2016, probe into domestic and foreign situations, and assign main tasks of 2017.
ChemChina’s Chairman Ren Jianxin attended the meeting and .delivered an important speech. ChemChina’s President Yang Xingqiang made report on work. Liu Shunda, Chairman of Supervisor Board of State-owned Enterprises, attended and made an important speech.
Ren Jianxin made an important speech entitled “Deepening Structural Reform of Supply Side, and Breaking New Ground for Internationalization of ChemChina”. According to him, in 2016, ChemChina adhered to new concepts of development, actively adapted to the New Normal of economic development, properly coped with various risks and challenges, steadily made progress, lay stress on structural reform of supply side, fulfilled five major tasks of “Cutting Overcapacity, Destocking, Deleveraging, Reducing Corporate Costs and Shoring up Weak Spots”, accelerated the streamlining and lean management, launched optimization and upgrading, achieved remarkable results at all aspects, and realized the annual main objectives and tasks of 2016.
Under the guidance of “New Science and New Future”, and with the “3 + 1” industrial development pattern as the strategy, ChemChina strived to realize the goal of “5531”, constantly created the economic and social value, constantly strengthened resource conservation, environmental protection and intrinsic safety, and constantly enhanced five core competitive powers.
Ren Jianxin analyzed and judged current situations in the face of reform and development of ChemChina, and set forth overall work planning at all aspects such as promoting the transformation and upgrading and maintaining steady development trend; accelerating the integration of resources and optimizing structure of assets and capitals; boosting management upgrading, enhancing internal strength and improving quality and efficiency; relying on innovation-driven growth and forming growth engines.
He stressed the guidelines for the work in 2017 as follows: It is necessary to place top priority over “Five in One” general layout and “Four-Pronged Comprehensive Strategy”, adhere to the overall keynote of seeking advancement in stability, firmly establish and implement the new concepts of development, focus on improvement of development quality and efficiency, emphasize promoting structural reform of the supply side, make great efforts for “Cutting Overcapacity, Destocking, Deleveraging, Reducing Corporate Costs and Shoring up Weak Spots”.
As the industrial restructuring basically completed, ChemChina will stress on optimization of the structure of assets and capitals, accelerate the integration of industry and finance, blaze the integrated listing path for domestic and overseas subsidiaries, make a breakthrough by development of mixed ownership, set foothold on streamlining, lean management and improvement of quality and efficiency, and comprehensively impel the Chinese chemical industry to grow stronger, better and bigger. In 2017, sales revenue and profit of ChemChina should increase by 15%, respectively.
Yang Xingqiang comprehensively summarized the fulfillment of tasks of 2016, and put forward work objectives and main tasks for 2017. In 2016, ChemChina witnessed operating revenue, EBITDA and profit increase by 15.4%, 11.5% and 40%, respectively. Among them, operating revenue of overseas subsidiaries accounted for 67.6% of gross operating revenue.
ChemChina ranked among Fortune 500 for the six consecutive years, which ranked 234th (ascending by 31 places compared with the ranking in 2015). ChemChina ranked 3rd in the global chemical sub-sector (ascending by three places compared with the ranking in 2015) and ranked 1st in the Chinese chemical industry.
Yang Xingqiang placed work priorities of 2017 at the following six aspects: Firstly, it is necessary to do everything possible to expand the market share, and take measures in multi-pronged manner so as to maintain growth. Secondly, it is necessary to accelerate the reform measures in practice, and achieve adjustment and optimization of capital structure. Thirdly, it is necessary to comprehensively strengthen the foundational management, and continuously improve the quality of operations. Fourthly, it is necessary to make more efforts to commercialize scientific and technological achievements, and upgrade independent innovation capability. Fifthly, it is necessary to promote the construction of long-acting mechanism, and enhance the safety and environmental protection. Sixthly, it is necessary ??to strengthen talent work in an all-round way, and improve the quality of employees.
At the same time, Workshop of Young Cadres Assigned by ChemChina to Other Entities and the Seventh Congress of the First Employee Committee were also held. On January 16, 2017, strategic business units held their annual working meetings, respectively.