SDIC Chairman Bai Tao announced that SDIC, the country’s leading capital investment corporation, performed well and recorded “better-than-expected” business results in the first half of this year thanks to its active implementation of the decisions and arrangements of the CPC Central Committee and the State Council, and following the instructions of the State-own Assets Supervision and Administration Commission of the State Council.

In the first six months of this year, business revenue of SDIC reached 88.1 billion yuan, registering a growth of 41 per cent over the same period of last year. Compared to the same period of 2019, the growth was 37 per cent. At the same time, SDIC’s net profits hit 20.3 billion yuan, a dazzling increase of 1.7 folds as compared with the same period of last year. Compared to the same period of 2019, net profits of the giant State-owned capital investment corporation increased by 1.5 folds. Among all the subsidiary companies, 14 recorded positive growth in profits. This indicates that SDIC has made new progress in development, business operation quality has further improved, and risks in business operation have been brought under control.

Chairman Bai attributed the better-than-expected results in business operation in the first half of this year to the active measures taken by the group in dealing with the complex and severe business situations, and meeting market challenges.

Chairman Bai made the announcement at a meeting on analysis of SDIC’s business performance in the first half of this year. Held on July 15, 2021 in Beijing, the meeting was attended by SDIC board directors Tan Xinghui and Qian Meng, SDIC Chief Accountant Li Ruge, Hu Changyuan, SDIC’s chief discipline inspection and supervision official, and SDIC Vice President Zhong Guodong as well as other leading officials, SDIC department leaders, and top officials from SDIC’s subsidiary companies and holding investment enterprises in Beijing.

At the meeting, Chairman Bai also warned that the group might face with even more complex and severe business situations in the second half of this year, there might be more uncertain and unstable factors in the world, the momentum of maintaining constant, high economic growth of the country might be weakened, further growth of profits needs an even more solid basis, and management skills should be improved further.

Under such a situation, Chairman Bai required that the group spare no efforts in fulfilling this year's targeted tasks, advancing business development with high quality, concentrating on key areas, promoting green and low carbon development, strengthening development of science and technology, increasing profit rate, and paying importance to risk control and production safety.

Chairman Bai also required constant efforts be made to do well the work of prevention and control of Covid-19 at its overseas subsidiaries so as to well protect employees and provide safe work conditions.