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On the afternoon of June 14, SIG held a Party-government joint meeting. Yu Beihua, Secretary of the CPC SIG Committee and Chairman of the Board of Directors, hosted the meeting. Liu Xinyi, Vice Secretary of the CPC SIG Committee and President of SIG, made arrangements for coordinating epidemic control with business development at the next stage. Present were members of SIG's leading body, heads of SIG's departments and subsidiaries, as well as SIG's dispatched supervisors.

The meeting analyzed SIG's business operation, investment and assets disposal, as well as the business development of SIG's subsidiaries from January to May, studied and deployed SIG's key work for the next stage.

The meeting noted that through the concerted efforts of all executives and staff, SIG advanced epidemic control and business development in a steady and orderly manner in the first five months of this year, achieving positive work results. According to the overall plans of the CPC Shanghai Municipal Committee, the Shanghai Municipal People's Government, as well as the CPC Committee and Discipline Inspection Commission of the Shanghai Municipal State-owned Assets Supervision and Administration Commission, we should earnestly implement the requirements of "keeping the epidemic under control, stabilizing the economy and developing soundly", firm up our confidence, forge ahead against all odds, coordinate epidemic control with business development and make new endeavors in pushing forward high-quality development.

Despite the epidemic outbreak, SIG's annual targets and tasks will remain unchanged. The meeting required that SIG's departments and subsidiaries should stick to the general principle of pursuing progress while ensuring stability, conduct scientific assessment of the overall situation, positively cope with risks and challenges, and go all out to fulfill the fixed targets and tasks. First, we should continue to increase active investments, tap influential target companies with long-term value, and promote high-quality development of SIG through high-quality investments. Second, we should broaden sources of revenues and reduce expenditure, continue to advance the centralized management of funds, and improve efficiency in fund management while ensuring the security and fluidity of funds. Third, we should refine the disposal of non-performing assets, upgrade business models properly and improve the capability of value realization. Fourth, we should step up efforts on capital raising, investment, management and exit of industrial funds, to promote the steady development of industrial funds. Fifth, we should keep the awareness of risk prevention and hold fast to the bottom line of risks.

The meeting stressed that Shanghai was going all out for economic recovery as it had entered a stage of regular epidemic control. With a strong sense of crisis, mission and responsibility, SIG should take on the mission and responsibility of state-owned enterprises, forge ahead bravely while overcoming hardships and difficulties, draw strength in practical work, and endeavor to make up for the time lost during the epidemic, thus making new contributions to Shanghai's "dual victory" in epidemic control and economic and social development.