The year 2019 marked the 70th anniversary of the founding of New China. It was also a crucial year for building a well-off society in an all-round way and realizing the first centenary goal. Beijing State-owned Assets Management Co., Ltd.(BSAM) adhered to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and resolutely implemented the decisions and deployments of the Central Committee of CPC and Beijing municipal party committee and government. We bear in mind our original aspiration and our mission, fully fulfills the political, economic and social responsibilities of state-owned enterprises and   has made outstanding contributions to the Capital's economic and social development. It is estimated that the asset scale for the whole year would reach RMB146.9 billion, with the operating income of RMB21.7 billion and the total profit of 3.959 billion. BSAM is rated domestic credit AAA, and the international credit A. The company maintains a good momentum of high-quality development.

I. Perform the political responsibilities as SOE and complete safeguarding tasks for major events

In 2019, we resolutely implemented the deployment of the municipal party committee and the municipal government on the service guarantee work of "1+3" major events and insisted on the pursuit of excellence with no errors. We organized Crystal, Beijing Artists Management Corp., Ltd, Capitel, Beijing Digital Authentication, BSD Group, China Beijing Equity Exchange, Beijing CHJ-Care, Beijing Urban Drainage Monitoring Center Co., Ltd and other enterprises to support the celebration of the 70th anniversary of the founding of New China, successfully completed the safeguarding of the Conference on Dialogue of Asian Civilization including Asian Culture Carnival and the opening ceremony of the FIBA Basketball World Cup. General Secretary Xi Jinping spoke highly of the operation of the Olympic venues when he visited the Bird's Nest and Water Cube to participate in the state events.

II. Implement the latest overall plan of urban development and serve “four centers”to make more achievements

Guided by the Beijing Municipal Overall Development Plan and closely centering on the functional positioning of the capital city, we have continued to improve the service capabilities of the "four centers", serving the construction of the national cultural center with fruitful results. The first phase of the Longfu Temple Cultural and Commercial Area Reconstruction Project was successfully launched and gradually became a new landmark for the rejuvenation of Beijing’s old city area; the land needed for Nanhaizi Sports Industry Park was successfully acquired to build a national sports innovation demonstration park revolving around the football industry; the successful premiere of the original drama "Canal 1935" created by Beijing Artists Management Corp., Ltd, more than 600 mass cultural performances such as the series of New Year performances in the Great Hall of the People are popular with the general public; Beijing SMEs Financing Re-guarantee Co., Ltd provided RMB1.156 billion financing guarantee support for 336 cultural and creative enterprises. In serving the construction of the national science and technology innovation center, BSD Group composed a new chapter by focused on the main platform of “three cities and one district” and promoted the launching of the Huairou International Science and Technology Center project; the Design Park Company's artificial intelligence incubator opened and was approved as “Beijing Artificial Intelligence Industry Innovation base”.

III. Integrate resources and take proactive efforts to engage in the construction of Beijing Municipal Administrative Center at a high level

The first phase of the Tongzhou Circular Economy Industrial Park project implemented by the Green Power Group was running smoothly, and the tender invitation has started for the second phase of the project under PPP model, which contributed to the protection of the green waters and mountains of the Capital of our great country. China Beijing Equity Exchange has established an enterprise registration sub-center for Beijing Municipal Administrative Center, becoming the first in the country to provide one-stop service of property rights transfer and business registration. We also revitalized the old workshops to develop cultural and creative industries, and improved the planning of projects in the quality cultural parks in the Administrative Center such as Golden Eagle Copper, the No.2 Daily Chemical Factory and Huateng Dayang. We hosted the 2019 Beijing Tongzhou Canal Half Marathon Match to create an impressive mass sports event. Key projects such as Tongzhou Cloud, Government Affairs Network, nursing home and sewage environment monitoring also strongly supported the construction of the Administrative Center.

IV. Push forward the coordinated development of Beijing-Tianjin-Hebei Region to participate in the development of Xiongan New Area

We have always taken easing the non-capital functions as one key task and continued to enhance the functions of the four major functions including the property rights transactions, asset management, financing guarantees and cultural performances for Beijing-Tianjin-Hebei Industrial Alliance.  BSD Group actively promoted the construction of Tianjin China-Canada Ecological Demonstration Zone and Tianjin Beichen Industry-City Integration Demonstration Zone, providing space for relocating the Capital's industrial function and the coordinated development of Beijing-Tianjin-Hebei Region. We actively participated in the construction of Hebei Xiong’an New Area, promoted the establishment of a voluntary emission reduction trading service center in Xiong’an New Area, explored and participated in Beijing-Tianjin-Hebei sci-tec real estate and environmental protection industry projects in Xiong’an New Area, Handan and Cangzhou, and support development of Xiong’an New Area through capital and industrial links. 

V. Provide full services for preparation of Winter Olympics 2022 and give full play to the role of Chinese experience to compose the glory of hosting two Olympics

The preparatory work for 2022 Winter Olympics was steadily pushed forward. The National Speed Skating Oval, also known as “Ice Ribbon” was unveiled as a whole, successfully fulfilling the goals of "Weaving Sky Screen" and "Ribbon Flying", demonstrating the hard core power of "Made in China". The stunning debut of the National Aquatics Center “Ice Cube”, with “Ice-to-Water Conversion” perfectly interprets the profound connotations of “China Technology” and “China Standard”. The National Stadium took the initiative to plan the renovation of the opening and closing ceremonies to renew the glorious chapter of the sustainable use of the Olympic venues after the game. Bei’ao Group has become the official service sponsor for sports display and award ceremony of the 2022 Beijing Winter Olympics and Paralympics, demonstrating the national cultural soft power on the Olympic stage. We hosted the second “Meet in 2022” Ice and Snow Culture Festival to help achieve the goal of “driving 300 million people to participate in ice and snow sports”.

VI. The achievements of targeted poverty alleviation demonstrate the social responsibility of state-owned enterprises in the new era

We resolutely served the Capital’s effort to alleviate poverty, add impetus to the revitalization of the villages, and made our utmost effort to  earnestly implement the relief assistance task through “one enterprise helps one village” , and made every effort to help Liangjiazhuang Village in Mentougou District develop the homestay sector successfully, achieving the start of construction, operations, and gaining benefits on the same year, removing their poverty cap ahead of schedule and setting a benchmark for Beijing's state-owned enterprises helping poverty alleviation work.  In order to promote financial poverty alleviation, Beijing SMEs Financing Re-guarantee Co., Ltd explored a new model of “insurance funds + guarantee + loan assistance” to help farmers in poverty-stricken areas get rid of poverty and become better-off, serving more than 40,000 farmers in 226 counties in 20 provinces across the country. The construction of Beijing-Tibet Exchange Center which was completed and eligible for handover will provide impetus for local development.

VII. Prevent regional financial risks and improve the effect of finance serving real economy

We continuously improved the market system, enhanced the ability of financial sector to serve the real economy, and effectively resolve regional financial risks. The annual transaction volume of China Beijing Equity Exchange exceeded 8 trillion yuan, accounting for more than 95% of the total transaction volume of the capital's factor market, taking the results of serving the reform and development of central SOEs to a higher level. With the support of Beijing Industrial Development & Investment Management Co., Ltd, TYSJ became the city's first listed company on the sci-tech innovation board.  Beijing SMEs Financing Re-guarantee Co., Ltd has served small, medium and micro enterprises with a cumulative amount of RMB51 billion throughout the year, with science, technology, culture and creativity, agriculture, rural areas and farmers accounting for more than 80%.  Beijing Guo Tong Asset Management Co., Ltd. gave full play to the role of local AMC and acquired nearly RMB15 billion of non-performing assets. Beijing Guozi Financial Leasing launched 40 new projects throughout the year.

VIII. Advance construction of ecological civilization and resolutely fight the battle against pollution

We actively practicing the concept that “lucid waters and lush  mountains are invaluable assets. Green Power Group has 8 new projects, with the number of solid waste treatment projects nationwide reaching 58, representing a new high. It won the title of “Annual Green Development Enterprise”.  China Beijing Environment Exchange completed 9.17 million tons of carbon transactions throughout the year and achieved a turnover of RMB438 million, a record high. Beijing Urban Drainage Monitoring Center Co., Ltd completed 310,000 monitoring data throughout the year, inspected the pipeline length of 713 kilometers and 382 sewage treatment facilities, contributing to the environmental protection and environmental safety of the Capital.

IX. Serve the livelihood improvement and help create a better life

We persisted in taking social benefits as the first, give full play to our own advantages and strive to improve people's livelihood. Capital Information has upgraded the “12345” citizen hotline service system with intelligence technology and developed the “Beijing 12345” WeChat official account to provide important support for the establishment of a rapid response mechanism to citizens’ appeals. Digital Authentication provides guarantees focusing on the key areas such as government affairs, health, transportation and education, having achieved remarkable results in technological product innovation and enriching service content. Beijing CHJ-Care has added 14 nursing homes to continuously promote the construction of “15-minute Community Service Circle” . It also joined hands with Chaoxi Community to build a benchmark for community governance. Capital Healthcare Group provides high-level diagnosis and treatment services for 170,000 people throughout the year.

X. Implement new development concept and serve the Capital for a high-level economic development

We stuck to the urban functional positioning of the Capital and continued to make the key businesses bigger and stronger. The total subscription of high-tech funds managed by Beijing Industrial Development & Investment Management Co., Ltd exceeded RMB20 billion, covering 13 high-tech industries, and its leading role has become more apparent. Beijing SMEs Financing Re-guarantee Co., Ltd deepened its services for technology-based small, medium and micro enterprises, and provided 614 venture companies with financing guarantee support of RMB1.204 billion based on the special service of “Starting-business Loan”. The Design Park Company gathered first-class innovative projects and introduced 26 artificial intelligence companies throughout the year. Xinlongfu Company is actively creating a new landmark for cultural experience and consumption in the old city area, and the Xinlongfu brand was selected as one of the “Beijing’s Top Ten New Brands in 2019”.

Hard work bolster dreams and striving makes a better future.

In the new year, let us seize the day, live up to our youth, forge ahead and keep pioneering. We will promote the high-quality development of the enterprise even more vigorously and strive for the comprehensive construction of a well-off society and the successful conclusion of the 13th Five-Year Plan, composing a brilliant new chapter of BSAM!