Just yesterday, CNPC announced that:
It was announced that CNPC completed the reform of the company system and changed from the ownership of the whole people into a wholly state-owned limited liability company.

It also means that the iron rice bowl will never return.

China oil bulletin said:
Approved by the state owned assets supervision and Administration Commission of the State Council, Chinese Petroleum Corporation (hereinafter referred to as the &ldquo Petroleum Group; ”) by the overall restructuring of state-owned enterprises is a limited liability company (state-owned), after the restructuring of the name changed to “ China Petroleum Group Co. Ltd. ”. PetroChina's original business, assets, qualifications, claims, debts and so on were inherited by the restructuring of CNPC. Shareholders, company residence, legal representatives and business scope remained unchanged.

According to the relevant information of the Beijing Municipal Bureau of industry and commerce, CNPC completed the change in December 15th and received the relevant license.

According to the relevant requirements of SASAC, the central enterprises such as PetroChina should take the opportunity to establish a governance structure with effective checks and balances, such as the board of directors, based on the restructuring of the company system.
At the same time, a market-oriented operation mechanism should be established to deepen the reform of the labor and personnel distribution system. The formation of management cadres, staff can be hired, revenue can be increased by reducing the selection mechanism of the market.
This means that after the reform of corporate system, the central enterprises such as PetroChina will carry out the form of market-oriented labor, called &ldquo, and the establishment of iron rice bowl &ldquo will no longer exist.
"The reform of state-owned enterprises has come to a close."
In fact, as early as July this year, the State Council issued a notice:
According to the relevant documents, the state-owned enterprises are required to basically complete the restructuring of the state-owned enterprises by the end of 2017.

In the last 3 years, China's oil deepened reform pressed “ the fast forward key ”
Nearly 20 leading group meetings have been organized, and many Party meetings have been held. We have studied and deliberated on 53 major reform issues, and arranged for more than 150 reform tasks.
As early as August 11th, CNPC had held a video conference on the restructuring of the company.
At the meeting, the oil reform and enterprise management department announced the "notice" on matters related to restructuring work of Group Corporation, the interpretation of the relevant policies, a clear division of responsibilities, procedures and time schedule, ensure the company and affiliated enterprises owned by the whole people before the end of November 2017 to complete corporate restructuring work.
And today, the official announcement was finally issued.
"What exactly is “ the company system is converted to ”? "
Change from the ownership of the whole people to the company system, not only a “ the brand ” the change.
Corporate restructuring in the form of enterprise organization will be in accordance with the enterprise owned industrial enterprises owned by the whole people of the national registration change according to company registered limited liability company or Limited by Share Ltd.

PetroChina was originally an old state owned enterprise, and the market - based operating mechanism was gradually established in these years.
In recent years, CNPC has completed the restructuring of most of its subsidiaries by compressing corporate entities, especially the restructuring of the oil project and the medium oil capital.
By now, the restructuring of the company system will be completed from top to bottom.
"The road of the reform of China's petroleum"
In the capital market, CNPC has been acting frequently in removing bad assets and injecting high quality assets into the listed companies.
In 2016, CNPC sold the 51% shares of Nanjing Kunlun Gas Co., Ltd., Zhuzhou Kunlun Gas Co., and Yueyang natural gas company. The above three companies were all losses in 2015, with a total loss of more than 8 million yuan.
In 2017, the footsteps of the slimming and healthy Chinese oil did not stop.
At the beginning of this year, PetroChina has transferred Beijing Central Asia Energy Technology Co., Ltd., Chengdu Energy Technology Development Co., Ltd. and Chengdu Tian Ke petroleum and Natural Gas Engineering Co., Ltd. Relevant data show that the above three companies are more generally profitable.
At the same time, the asset section of China's PetroChina's asset sector has also accelerated the pace of listing.
In February 2017, the medium oil capital and China oil project were reorganized. China Petroleum Group financial sector finally realized the overall listing, initially forming the three major listed platforms of China oil, medium oil capital and China oil project. The specialized reorganization of China's petroleum has begun to appear, and the reform of the mixed ownership system has made important breakthroughs.
In addition, the oil and gas reform is also the key. In May this year, the oil and gas reform programme was announced. It is intended to gradually promote the separation of plant network, network sales, transmission and distribution, storage and transportation, and gradually form an exploration and mining system dominated by large state-owned oil and gas companies and participate in various economic sectors.
PetroChina has set up 5 major regional gas sales branches in the north, the East, the West and the southwest. This means that China's oil and gas pipelines and sales operations are formally separated.
It is worth noting that the oil and gas reform program mentioned that it will step by step to promote the independence of the main line pipeline of the state-owned large oil and gas enterprises, and to separate the pipeline from the sales.
Meanwhile, PetroChina boldly introduced private capital and changed marketing mode. Last year, CNPC took the lead in Alibaba, and the two sides launched many cooperation in the field of Internet payment, electronic fuel card, Internet finance, member sharing, integral exchange and joint marketing.

The innovation and reform of this series of institutional mechanisms have greatly enhanced the vitality and stamina of the enterprise.
By yesterday, the official announcement, the &ldquo of CNPC, the big change of blood, &rdquo, was completely finished, and the oil people had almost adapted to the existing mechanism.
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