At the intersection where state-owned enterprise reform advances further and regional economies pursue high-quality development, a pressing challenge emerges: how can county-level state-owned capital platforms break through financing bottlenecks and enhance their credit ratings. Jiedong District chose not to wait, but to proactively seek a solution.
On March 31st, with the official awarding of an AA+ issuer credit rating, Jiedong District successfully established the first county-level AA+ state-owned company in Jieyang City three months ahead of schedule – Jieyang Jiedong District Dongxin Industrial Investment Group Co., Ltd. (hereinafter referred to as "Dongxin Industrial Investment"). This marks a critical step for Jiedong District in deepening SOE reform, broadening financing channels, and serving the high-quality development of the regional economy, providing a "Jiedong model" for the city's state-owned enterprise reforms.
High-Level Leadership Accelerates Reform Pace
Since initiating related work in November 2025, the Jiedong District Finance Bureau proactively shouldered the leading responsibility, treating the cultivation of an AA+ rated entity as both a political task and a key priority. With a pioneering spirit, an innovative drive, and a practical work style, it doubled its efforts, forging a new, exemplary path for reform.
Facing challenges such as the difficulty of asset consolidation and high rating standards, Jiedong District adhered to a strategy of "high-level planning and task force promotion." The District Finance Bureau took the lead in formulating a list of 18 specific tasks, implementing a chart-based, milestone-controlled operation. It completed all rating preparation work in just 5 months, achieving the target originally set for the first half of 2026 by March 31st, demonstrating an accelerated pace in district-level SOE reform.
Professional Expertise Creates a New Model for Consolidation
This reform was not a simple bundling of assets but a deep restructuring and upgrade. The Jiedong District Finance Bureau, in accordance with laws and regulations, selected top-tier third-party professional institutions including securities firms, accounting firms, and rating agencies to conduct a comprehensive asset audit and optimize the equity structure. The consolidated Dongxin Industrial Investment now oversees 4 wholly-owned subsidiaries and 2 holding subsidiaries, establishing a core business system and achieving a substantive transformation from "scattered, small, and weak" to "concentrated, large, and strong," laying a solid foundation for the platform's sustainable development.
Through the precise diagnosis of professional institutions, Dongxin Industrial Investment achieved a qualitative leap in asset scale, revenue-generating capability, and risk resilience, laying a solid groundwork for subsequent bond issuance, financing, and industrial investment.
Institutional Innovation Builds a Strong Collaborative Force
During the advancement process, Jiedong District innovatively established a collaborative working framework of "finance bureau leadership, SOE implementation, and professional institution support." The District Finance Bureau proactively engaged with departments such as development and reform, market regulation, and housing and urban-rural development, cumulatively reducing approval timelines by 30% and clearing key bottlenecks like asset transfers and equity changes.
By establishing a problem ledger and a closed-loop management mechanism, Jiedong District achieved "immediate identification and resolution of issues," gathering powerful, multi-faceted collaborative strength. This cross-departmental, multi-level collaborative model effectively reduced communication costs, enhanced administrative efficiency, and provided institutional safeguards for the smooth progress of the reform.
Exemplary Leadership Generates New Momentum for High-Quality Development
By establishing the city's first county-level AA+ state-owned company, Jiedong District's pioneering breakthrough not only enhances its own credit rating and bargaining power in the capital markets but also explores a replicable, scalable path for the transformation and upgrading of financing platforms for other counties and districts in the city. Obtaining the AA+ rating will effectively reduce regional financing costs, broaden funding sources for major projects like industrial investment and urban renewal, and truly leverage the catalytic role of "financial vitality."
The Jiedong District Finance Bureau stated that it will use this as an opportunity to continue shouldering its leading responsibilities and deepening the results of the special campaign to improve state-owned capital management. It will focus on enhancing quality and efficiency by optimizing Dongxin Industrial Investment's business structure and increasing industrial investment efforts; focus on risk prevention by improving SOE management systems and building a high-quality bond issuer; and focus on development empowerment by fully leveraging the credit advantages of the AA+ platform. The aim is to generate new productive forces through new achievements in SOE reform, contributing greater strength to the high-quality development of Jiedong District and the entire city.
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