China Huarong Holds Work Conference to Plan for 2019
On 28-29th January, China Huarong held its 2019 Work Conference in Beijing. The conference made comprehensive review of the company’s work in 2018, analyzed the current economic and financial situation and mapped out its business plan for 2019.
It was pointed out that 2018 was an extraordinary year for China Huarong. The CPC China Huarong Committee has led a system-wide effort to reinforce the “four consciousnesses”, to bolster confidence in the path, theory, system and culture of socialism with Chinese characteristics, to resolutely uphold General Secretary Xi Jinping’s position as the core of the CPC Central Committee and the whole party, as well as the authority of the CPC Central Committee and its centralized and unified leadership. China Huarong has resolutely implemented the policies and decisions made by the CPC Central Committee, the State Council and the CBIRC, comprehensively strengthened the party building, and eradicated the adverse impact of Lai Xiaomin. The company has responded to crisis proactively, made thorough reviews and prudently handled hidden risks, solved internal management problems, adjusted the development strategy and brought the company back on its right track. The company has made smooth transition and maintained steadiness in terms of its overall situation, morale, workforce, business and expectations. Based on this, China Huarong will start a new journey of high-quality development.
In 2019, the general objective of China Huarong is to promote progress while maintaining stability. In order to achieve high-quality development, the company strives to achieve its goal in the following five perspectives: 1)Comprehensively strengthen party leadership and party building, and thoroughly eradicate the adverse impact of Lai Xiaomin; 2)Accelerate transformation process and construct high-quality development model; 3)Focus on core business and play a pivotal role in distressed asset market; 4)Promote restructuring and defuse interior risks; 5)Build a workforce of high professionalism and iron will.
The kernel of China Huarong’s high-quality development strategy is to focus on core business, sustain financial soundness, manage risks at a controllable level and maintain effective synergy. In order to achieve these objectives, China Huarong will steadfastly mitigate risks, accelerate the restoration of business fundamentals, focus on core business, reconstruct a sustainable profit model and make accurate allocation of resources. The conference also announced the company’s main tasks in 2019.
2019 is the beginning year to construct a new Huarong. It is a critical time of reform and transition, the time the company seeks to draw lessons from Lai’s case, to consolidate its foundation to achieve high-quality development. All business units should strengthen confidence, maintain a strong sense of responsibility and aspiration, and work together to construct a solid foundation for the new Huarong.