From January to February, state-owned enterprises (SOEs) under the supervision of the State-owned Assets Supervision and Administration Commission of Guangxi Zhuang Autonomous Region (Guangxi SASAC) recorded profits of nearly 2.3 billion yuan ($316.5 million), a 57 percent increase year-on-year. Total investment reached 22.4 billion yuan, up 30 percent year-on-year, with 2.8 billion yuan allocated to emerging industries, an 83.6 percent increase year-on-year.
Since the beginning of the year, the Guangxi SASAC has prioritized actionable reforms and innovation-driven growth, introducing a set of initiatives to drive the high-quality development of Guangxi’s SOEs.
The inspection robot at Guangxi Qiaogong Hydropower Station [Photo/sasac.gov.cn]
Boosting reform to enhance vitality
Guangxi has intensified reforms for 100 key SOEs, deepening market oriented operations, advancing authorization lists to boost efficiency, and introducing new performance evaluation systems. Investment in “AI+” initiatives is accelerating, with AI-driven applications emerging in manufacturing, logistics and tourism.
Developing overseas markets
Guangxi is attracting central SOEs to establish regional headquarters, innovation hubs, and R&D centers. In the first two months of 2025, 16 central SOEs have signed agreements for 19 new investment projects, with investment value totaling of 37.1 billion yuan.
Guangxi’s first fully automated, intelligent steel analysis and testing line [Photo/sasac.gov.cn]
Simultaneously, exports have hit 3.3 billion yuan, up 10.7 percent year-on-year, with products such as LiuGong wheel loaders, Yuchai engines, and Guangxi new energy vehicles reaching European, North American and ASEAN markets.
Strengthening oversight to mitigate risks
Guangxi SASAC has reinforced regulatory oversight by incorporating supervision into enterprise management. It has revised investment regulations, introduced a risk management system, and enhanced monitoring of enterprises with potential risks, ensuring timely corrective actions.
Notable achievements in SOE reform
As of now, 82.3 percent of Guangxi’s SOE reform enhancement tasks have been completed, yielding substantial progress. 582 total enterprises have fully established boards of directors, and 453 lower-tier enterprises have streamlined their management structures to three levels or fewer.
Market-oriented operations are accelerating, with 1,355 subsidiaries adopting open recruitment, and 56.2 percent of management positions now filled through competitive selection. Additionally, 59 enterprises have introduced long-term incentive mechanisms to enhance efficiency. R&D investment reached 15 billion yuan in 2024, marking four consecutive years of double-digit growth.
(Executive editor: Wang Ruoting)
