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Chairman Song Zhiping Invited to Attend 2013 Fortune Global Forum
Source: CNBM
Date: June 9, 2013
From June 5 to June 8, Fortune Global Forum 2013, sponsored by Time Warner and attended by global multinational corporations, was held in Chengdu. Chairman Song Zhiping was invited to attend the forum, and he made a speech on the sub-forum: “Releasing the Potential of Chinese Business: State-owned Enterprises and Private Enterprises”.
The sub-forum was presided by Stephen Roach, a senior researcher of Yale University and former Chief Economist of Morgan Stanley, and attended by three honored guests: CEO of China Shenhua Energy Co., Ltd. Ling Wen, Chairman and CEO of Taikang Life Insurance Co., Ltd. Chen Dongsheng, and researcher of Chinese Academy of International Trade and Economic Cooperation Wang Zhile. The speakers discussed about China’s state-owned enterprises and private enterprises, involving the reform of China’s state-owned enterprises, relationship of state-owned enterprises and private enterprises, international developments, etc.
Chairman Song Zhiping made a brief introduction to CNBM’s reform of marketization, its publicity and the development of marketization. He pointed out that quite a few people think that the rising competitiveness of the state-owned enterprises is originated from governmental special care; in fact, in recent years, the state-owned enterprises have had certain edges in innovation ability, market competitiveness, economic benefit, etc.; the major reason is that the state-owned enterprises entered the market and conducted the reform of marketization. The state-owned enterprises integrate with the market via standard governance and reform of system and inner mechanism, and with the capital market via listing and publicity. The vast majority of the state-owned enterprises were listed, the social capital accounting for a considerable proportion. The vitality of the state-owned enterprises stems from the reform of marketization. He thought that the state-owned enterprises underwent some difficulties; on basis of the previous painful experiences, the state-owned enterprises introduced market mechanisms resolutely and remoulded thoroughly, and great achievements have been made. The reform of the state-owned enterprises is still continued and improved. For the state-owned enterprises, marketization is the first transformation, while internationalization is the second transformation. The state-owned enterprises conducted overall reforms, promoted themselves and enhanced their own competitiveness in the course of marketization and internationalization. On the forum, Chairman Song Zhiping also communicated with the reporters about China’s real estate market.
Stephen Roach expressed that “The development of CNBM and Sinopharm is amazing; very few entrepreneurs in the world are able to lead two major enterprises at the same time successfully. Chairman Song Zhiping is a very powerful enterprise leader. I greatly admire him.
On June 7, Chairman Song Zhiping was invited to attend the luncheon party of CCTV Finance –“Thought-Sharing-Collection”, during which he discussed the global economy, Sino-US economic development, boundary of government and market, etc., with some honored guests from USA: the preceding US Treasury Secretary Henry Paulson, senior researcher of Yale University Stephen Roach, etc., and some of China’s business leaders and scholars. Chen Weihong presided the luncheon party.
On June 8, Chairman Song Zhiping was interviewed by the press center of the Fortune Global Forum, answering such questions as “corporate governance of the state-owned enterprises”, “corporate governance and the enterprise development pattern of CNBM and Sinopharm”, “relationship of the state-owned enterprise and the private enterprise, “entrepreneurship”, etc. In addition, reporters from nearly 30 central media companies, local radios, local televisions, newspapers and magazines, and networks also participated in this interview and made reports.
