State owned Assets Supervision and Administration Commission: Improving and Strengthening Market Value Management to Better Maintain Capital Market Stability
2025-02-18
On February 17th, the Party Committee of the State owned Assets Supervision and Administration Commission of the State Council published an article in the Study Times stating that it will continue to improve the quality of listed companies controlled by central enterprises, continuously improve and strengthen market value management, support value investment, rational investment, and long-term investment, and better maintain the stability of the capital market. In addition, we will vigorously implement the digital transformation action plan for state-owned enterprises and the "AI+" special action plan to accelerate the transformation from intelligent to digital. The article on improving the quality of listed companies controlled by central enterprises states that it is necessary to continuously consolidate the foundation of business development. Efforts should be made to place the foundation of development on the enhancement of the intrinsic value of enterprises, promote the synchronous improvement of efficiency and efficiency indicators, the synchronous accumulation of on balance sheet and off balance sheet assets, and the effective connection of short-term and long-term goals, accelerating the realization of connotative development centered on value creation. We should fully leverage the demonstration and driving effect. Taking the expansion of effective investment as a powerful lever to support the expansion of domestic demand, we will make good use of the "two new" policies, increase "two pronged" investment, accelerate the implementation of planned projects, focus on technological attributes, technological value, and emerging fields, promote the implementation of a number of key projects to strengthen and supplement the supply chain, and better play the role of investment in driving development. Continuously improving the quality of listed companies controlled by central enterprises, continuously improving and strengthening market value management, supporting value investment, rational investment, and long-term investment, and better maintaining the stability of the capital market. In the eyes of many industry insiders, market value management is an important direction for central enterprises in 2025. The State owned Assets Supervision and Administration Commission is promoting central enterprises to attach importance to market value management from top to bottom. Currently, some central enterprises have announced market value management systems, and in the future, more central enterprises will establish market value management systems, gradually forming a scientific market value management concept in practice and promoting the value enhancement of central enterprises. The research report released by China International Capital Corporation (CICC) further stated that starting from key links, incorporating market value management into the performance assessment of central enterprise leaders is expected to promote the resolution of structural valuation problems in some central enterprise controlled listed companies. The implementation of special actions to accelerate intelligent transformation and digital transformation proposes to promote the upgrading of key industries. Focusing on the manufacturing industry and taking large-scale equipment updates as the starting point, we will vigorously implement the action plan for digital transformation of state-owned enterprises and the "AI+" special action, accelerate intelligent transformation and digital transformation, promote green transformation and resource conservation and recycling, and accelerate the high-end, intelligent, and green development of traditional industries. Recently, central enterprises in multiple fields such as telecommunications, automotive, and energy announced the integration of DeepSeek, indicating that "AI+" applications are developing in depth. According to a research report released by China Merchants Securities, the "AI+" special action implemented by central enterprises since early 2024 requires accelerating the empowerment of key industries through "application driven technology". Central enterprises have certain experience in applying artificial intelligence, laying the foundation for their current rapid implementation of the DeepSeek model. The implementation of the 'AI+' special action and the transformation of intelligent transformation into digital transformation are important measures for state-owned enterprises to achieve market-oriented reform through technological innovation Zhou Lisha, a researcher at the China Enterprise Reform and Development Research Association, commented that in the future, central enterprises may further accelerate the implementation and application of AI models, promoting industry transformation and development. From a longer-term perspective, domestic models such as DeepSeek may combine with the data element advantages of central enterprises to accelerate the landing of AI applications and innovate business models, profoundly reshaping the development momentum and competitive advantages of central enterprises The above-mentioned China Merchants Securities research report states. (New Society)
Edit:Yao jue Responsible editor:Xie Tunan
Source:China Securities Journal
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