Tianjin has finished its mixed-ownership reforms of State-owned enterprises, making decisive achievements in critical sectors and key steps, according to the government press conference on Oct 10. 

Statistics show that currently, 17 local SOEs have finished their mixed-ownership reforms. The city’s reform achievements have twice been awarded national A level certification.

The reforms have met expectations and powered the high-quality development of Tianjin’s SOEs. Zhu Peng, deputy mayor of the city, said that in 2021, local SOEs’ operating profits increased by 20.7 percent year-on-year.

From January to August this year, the net profit of the enterprises grew 22.9 percent year-on-year, and the main economic indicators maintained this trend in growth.

The market-oriented operation mechanism has become more complete, and the internal system and institution of enterprises has seen further improvement.