On the afternoon of July 29, the 2019 Semiannual Work Conference of Shanghai International Group (SIG) was held. Yu Beihua, Secretary of the CPC SIG Committee and Chairman of the Board of Directors, hosted the conference. At the conference, Yu delivered the semiannual work report on Party building. Fu Fan, Vice Secretary of the CPC SIG Committee and President of SIG, delivered the semiannual business report. Zhang Guohong, Chairman of the Board of Supervisors; Wu Jun, Member of the CPC SIG Committee, Secretary for the Discipline Inspection Commission and Vice Chairman of the Board of Supervisors; and Guan Wei, Chief Finance Officer of SIG were present.
In the first half of 2019, guided by Xi Jinping's thought on socialism with Chinese characteristics for a new era and the spirit of the 19th CPC National Congress, SIG has comprehensively implemented the work arrangements of the CPC Shanghai Municipal Committee, the Shanghai Municipal People's Government and the CPC Committee of the Shanghai Municipal State-owned Assets Supervision and Administration Commission, grasped the direction, controlled the overall situation and ensure implementation, steadily carried out education themed "Staying true to the mission", enhanced the responsibility of Party self-governance, focused on improving the quality and level of Party building, and provided strong political, organizational and ideological guarantee for advancing the reform, innovation and development of SIG and fulfilling the annual tasks.
In the first half of 2019, based on its functional orientation, SIG has enhanced its responsibility for the mission, focused on serving the building of Shanghai into "five centers", promoting "four brands" and implementing three new major tasks, steadily advanced its annual business plan with emphasis on state-owned asset operation and investment management, constantly intensified reform and innovation, deepened the function of its state-owned capital operation platforms, optimized its investment structure, conducted risk investigation and management, and improved comprehensive management, thus making smooth progress in business operation. SIG registered total assets of 246.3 billion yuan, net assets of 176.8 billion yuan, an asset-liability ratio of 28.3 percent, an asset securitization rate of 75.3 percent and a total profit of 3.85 billion yuan according to consolidated statements (unaudited) as of late June 2019.
In the second half of 2019, SIG should continue to learn and comprehend Xi Jinping's thought on socialism with Chinese characteristics for a new era, comprehensively implement the spirit of General Secretary Xi Jinping's important speech during his visit to Shanghai and the spirit of Secretary Li Qiang's speech during his visit to SIG, give full play to the leading role of the CPC SIG Committee, turn the actual effects of thematic education into the strong power driving the reform and development of SIG in the new era, initiatively serve national strategies and the economic and social development of Shanghai, work out a new three-year action plan, implement the dual engine strategy, conduct overall planning of the high-quality development of state-owned asset operation platforms, advance the sustainable development of state-owned capital operation in depth, constantly enhance the function of financial holding, practically improve the level of investment management, explore the institutional innovation of marketization, continue to improve the level of comprehensive management, ensure the fulfillment of annual tasks of Party building and business targets, make new contributions to Shanghai's all-out efforts in opening a new page for reform and development in the new era, and meet the 70th anniversary of the founding of the People's Republic of China with outstanding results. All cadres and staff of SIG should be passionate, creative and responsible, advance the implementation of SIG's work and ensure the fulfillment of its annual tasks with vigorous state and firm determination.