State-owned enterprise reform is a crucial step toward high-quality development and serves as the core engine for strengthening, optimizing, and expanding SOEs. Since 2020, Shanghai Airport Group has aligned with the strategic direction set by the municipal government, embedding reform into its core operations. The group actively supports Shanghai’s efforts to enhance its "four major functions" and advance the "five centers" initiative, driving transformative progress to realize its vision of becoming a "globally leading international aviation hub and a world-class airport industry group."
Reform begins with top-level design and systematic planning. Under the unified guidance of the Shanghai Municipal Party Committee and the State-owned Assets Supervision and Administration Commission (SASAC), the group established a dedicated reform task force to develop the "Shanghai Airport Plan" for deepening SOE reforms. The plan focuses on three key areas: building a world-class international aviation hub, developing a top-tier airport industry group, and refining a modern enterprise system with Chinese characteristics. Thirty-two critical tasks have been outlined to ensure reforms take root. Accountability is reinforced through leadership responsibility, checklist-based management, and quarterly evaluations to guarantee tangible results.
The essence of reform lies in tackling challenges and fostering innovation. Shanghai Airport Group has made significant strides in supporting national strategies, achieving dual milestones in passenger and cargo throughput. In 2024, passenger traffic hit a record high, while cargo volume rose to rank second globally, with Asia-leading route connectivity. The group expanded regional services by launching satellite terminals and cargo facilities in cities like Suzhou, elevating the Yangtze River Delta’s aviation capabilities. Cross-regional multi-airport system planning is progressing steadily, with Pudong Airport’s Phase IV expansion and the Nantong New Airport project advancing smoothly.
The group is also pioneering smart, green, and low-altitude aviation initiatives. It established the "Airport Brain & AI Joint Innovation Lab" to integrate digital intelligence into operations and built a diversified clean energy system combining solar, biomass, and green power trading. Additionally, it spearheaded the Shanghai Low-Altitude Economy Development Company to explore emerging industry opportunities.
Market-driven reforms and modern corporate governance have gained momentum. The group integrates Party leadership into corporate decision-making, introduced its first equity incentive plan for listed subsidiaries, and rolled out innovative mid-to-long-term profit-sharing schemes. A culture of excellence and competition has energized employees, fostering widespread engagement in reform efforts.
Reform is an ongoing journey. Shanghai Airport Group remains committed to delivering high-quality results in SOE reform, setting industry benchmarks, and sustaining long-term growth. By deepening reforms, the group aims to strengthen its role as a comprehensive international aviation hub, injecting lasting momentum into broader economic development.
With bold innovation and relentless drive, Shanghai Airport Group is poised to achieve new milestones in its quest to become a world-class airport industry group.
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