Tianjin SOEs unleash vitality via reform

Tianjin's core State-owned enterprises (SOEs) have been selected to serve as examples of high-quality, ongoing reforms.

In total, about 400 SOEs at national level and from other provinces were approved by the State Council. They are expected to pave the way for changes in ownership and management of SOEs, and for developing solutions to other problems that are hindering their development.

TTTS is the first company of Tianjin Textile Group to be listed on the "new third board" - China's National Equities Exchange and Quotations. Over the past three years of reform, it has witnessed breakthroughs in annual output value, personnel promotion channels, and business scope. In the first half of this year, the company’s operating income saw a year-on-year increase of 62.66 percent to 86.16 million yuan($12.61 million).

Tianjin Finance Company has reported rapid growth and an increasing attraction to talents due to its reform and innovation.

According to Yang Haibin, president of the company, more than 85 percent of the company's employees have a master's degree or above, and 35 percent of employees have overseas study experience. In 2019, the accumulated asset management value of the company exceeded 53 billion yuan. Of this, 43 billion yuan was the growth that has followed the mixed reforms.

Zhongxin Pharmaceuticals Group grants a total of 4.87 million restricted shares to 141 of the company's leading scientific research experts, technical staff, and core management teams as a medium and long-term incentive.

There are 26 branches and subsidiaries of the company, and more than 3,500 people will enjoy the dividends brought by the enterprise annuity plan.