As the annual ring of time completes another cycle and the bell of the New Year rings, we, the staff of ChemChina, can report that we have smoothly completed numerous tasks of the year 2010 and reached numerous goals of the 11th Five-Year Plan. We are rallying our forces and getting pumped, and starting our new expeditions with enthusiasm. On the occasion of the arrival of the New Year, I, on behalf of the China National Chemical Corporation, would like to express my highest respects and festive greetings to the 160,000 staff members of ChemChina and express my gratitude to your family members.
Over the past year, we, the staff of ChemChina, have tackled many challenges with calm confidence. Faced with a short supply of resource raw materials, high prices, fiercer competition in our products' market, all in addition to a tight schedule and heavy requirements for reducing ChemChina's impact on the environment, we firmly moved ChemChina in the direction of restructuring and guided her through the main tasks of management reform, gave full play to the political advantages of Party construction of the companies, relied on the staff members wholeheartedly to wipe out deficits to go into the black and generate the historical best achievement in sales revenue and total profits in the second half of the year. These achievements were made by way of pushing ourselves, constant reform, intensive management and fiercely competing in the market.
The year 2011 is key to China's realization of an overall well-off society and the first year of the 12th Five-Year Plan. It requires a new start, new ideas, new measures and new breakthroughs.
The New Year requires a new start. The 5th plenary session of the 17th National Congress of the Communist Party of China proposed the 12th Five-Year Plan of China and depicted wonderful prospects for the construction of an overall well-off society. For ChemChina, the Plan also provides an important strategic opportunity for rapid and sound development. We must follow the requirements of a scientific outlook on development and further accelerate our strategic transformation. We should realize our industrial upgrading and technology progress through international management and key project construction. We should be mindful of the needs of future development, develop new science and have a good start with regard to new technology, new energy and new industry.
The New Year requires new ideas. We must follow the theme of scientific outlook on development and restructuring to further introduce the best practice of international chemical industry, greatly foster and use professional managers to restructure the capitals, businesses, organizations and human resources. We will focus on the key work of turning loss into gain, reducing debts by the introduction of capitals, the concentration of people with legal status, occupation and remuneration planning. Following the principles of informationization, we will kick off the implementation and construction of the overall world-class manufacturing system. With upgraded equipment, reasonable goals, a fixed number of staff, optimized supply logistics and improved system capacity, we will forge ahead with the core ability of production, and push forward our scientific, modern and international management.
The New Year requires new measures. To mobilize various forces to allow the emergence of initiatives for the creation of company value has long been the direction of the State-owned company reform. On one hand, we should stick to three “Great Introductions” to push forward innovations and reforms. On the other hand, we should make the best use of traditional means and simple methods to strengthen incentives. We will grant a certain proportion of company benefits to award various employees working at various levels. We should accelerate the overall reform of the companies and direct financing to engage the managerial staff and irreplaceable positions in value creation and value distribution of the company.
The New Year requires new breakthroughs. The 12th Five-Year Plan period foresees prosperity and great opportunities. However, the challenges and difficulties remain unprecedented. Without prior consideration for the future, one will not be able to make plans for any time soon. We should recognize that our traditional chemical industry resource bottleneck, cost pressure, SHE challenges and technological level are all short boards for us in the international competition and forging a first-class company. Therefore, we should go all out to solve the issue of raw material resources, the issue of major financing for potential companies, the issue of key projects and industrial base construction, and the issue of introduction and innovation of key technologies. We must truly make new major breakthroughs against the key problems that have been impeding us.
Looking to the future, we feel that we shoulder heavy responsibilities in the years to come and we are inspired by a sense of pride. The staff members of ChemChina who have long been tempered will make new and greater achievements in the New Year.
I wish you all good health and a happy family!
Dec. 30, 2010