Gansu’s Provincial‑Owned SOEs Deliver Solid Results Amid Deep‑Running Reform Drive

State‑owned enterprises across Gansu have pressed ahead with eight major strands of reform work throughout the current year, covering layout optimisation, scientific and technological innovation, corporate governance, market‑oriented operational mechanisms, the development of world‑class enterprises and party‑building within state‑owned firms. These reform measures serve to unlock internal momentum for business entities. 

Between January and July, provincial‑level state‑owned concerns recorded a total profit of 14.544 billion yuan, marking a year‑on‑year rise of 27.25 per cent. Operating revenue generated from strategic emerging industries reached 79.946 billion yuan with annual growth hitting 18.7 per cent, while tax contributions totalled 17.492 billion yuan, an increase of 24.17 per cent.

Efforts are directed towards stabilising growth and lifting operational efficiency. Businesses keep track of macroeconomic shifts, industry trajectories and fluctuations within commodity markets to refine operational strategies and tap fresh growth potential. Project‑based investment moves forward in an orderly fashion. Governance mechanisms including dedicated leadership oversight and regular progress reviews strengthen factor support, enabling timely commencement for mature projects and accelerated construction for schemes already under way. 

In the first seven months of the year, provincial state‑owned enterprises completed aggregate investment worth 60.94 billion yuan, rising by 16.41 per cent year‑on‑year. Forty‑eight major provincial‑listed projects have fulfilled 60.93 per cent of their scheduled annual workload. Six flagship industrial projects have entered formal production, including the first‑phase 200 000‑tonne lithium‑iron‑phosphate cathode materials facility run by Jinchuan Group and a product‑mix adjustment scheme for the steel division of Jiuquan Iron and Steel Group.

Work on modern corporate governance remains a priority. Gansu’s State‑owned Assets Supervision and Administration Commission has revised guidance documentation covering major decision‑making matters for provincial state‑owned enterprises. Boards of directors or individual board members are put in place on a tiered, classified basis according to each undertaking’s functional positioning, scale and governance maturity. 

Boards exercise their roles in strategy formulation, key decision‑making and risk prevention. Market‑led operational frameworks continue to be enhanced alongside deeper reforms of personnel, payroll and employment systems. Campaigns are rolled out for tenure‑based and contractual management of senior management teams, spreading management accountability across different organisational tiers. 

Rules governing reassignment for under‑performing staff and the exit of unqualified personnel are rigorously enforced to normalise personnel mobility. By the end of July, cash recovery against operating revenue, operating profit margin and gross profit margin had respectively climbed by 3.59, 0.82 and 1.87 percentage points on a year‑on‑year comparison. Labour productivity per employee rose by 59 700 yuan per head.

Integration between research and industrial application drives technological advancement. The provincial authority keeps refining diversified funding mechanisms for corporate‑led research activity. 

Additional resources are channelled into research and development expenditure, with provincial fiscal special funds and state‑owned capital operational budgets supporting large‑scale innovation platforms and critical technological research initiatives. R&D spending of provincial‑owned enterprises hit 8.039 billion yuan across January‑July, representing a 13.96 per‑cent year‑on‑year increase. 

The R&D intensity of provincial industrial state‑owned firms has reached 3.18 per cent. Mechanisms facilitating links between universities, research institutes and industrial players are consolidated. Leading chain‑head enterprises bridge supply and demand for research outputs, targeting cutting‑edge materials, high‑end manufacturing and germplasm resources to tackle bottleneck issues. 

Nine sets of core technologies including optimised separation‑smelting controls for copper‑nickel symbiotic ore at Jinchuan Group have made notable breakthroughs, whilst six research achievements such as grain‑oriented silicon steel developed by Jiuquan Iron and Steel Group have been translated into commercial production.

Capital layout and industrial restructuring proceed under the provincial “6+1” action programme for state‑owned asset adjustment. State‑owned capital is guided to converge upon six key industrial fields: new‑form materials, new‑energy together with associated equipment manufacturing, coal‑based sectors, cultural tourism, traditional Chinese medicine and modern agriculture. 

From January to July, provincial‑owned state‑owned enterprises invested 11.01 billion yuan in digital, intelligent and low‑carbon transformation, updating 3 113 sets of production equipment. Investment directed to strategic emerging industries stood at 7.02 billion yuan with year‑on‑year growth of 8.03 per cent. A 2400 MW smart power grid and local new‑energy consumption demonstration project operated by Jiuquan Iron and Steel Group has been commissioned. 

Gansu Provincial Electric Investment Group has developed the “Zijin Yuneng” large‑scale artificial‑intelligence model, and Gansu Engineering Consulting Group has completed construction of a provincial‑level technical centre for digital twin water conservancy systems. 

Co‑operation frameworks linking central‑level and provincial state‑owned entities keep deepening. Since the start of 2026, Gansu has established connections for 158 new co‑operation projects with central state‑owned businesses, with planned total investment amounting to 262.2 billion yuan and an annual rise of 11.6 per cent.

Gansu’s State‑owned Assets Supervision and Administration Commission is now aligning its work with the outcomes of the provincial mobilisation meeting on further deepening state‑owned enterprise reform. It has drawn up 178 targeted implementation measures building upon the 28 national‑level reform tasks. Further reform work will continue to strengthen and expand state‑owned enterprises and state‑owned capital across the province.