China Merchants Group Holds 2026 Work Conference, Achieving Decisive Progress in the "Third Entrepreneurship"

On January 30, China Merchants Group held its 2026 Work Conference. The conference focused on thoroughly studying and implementing the important instructions of General Secretary Xi Jinping on the work of central enterprises, comprehensively implementing the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, the Central Economic Work Conference, and the Central Enterprise Leaders' Conference, systematically summarizing the Group's achievements in high-quality development during the 14th Five-Year Plan period, planning and deploying the Group's 15th Five-Year Plan strategic plan and key tasks for 2026, sounding the clarion call to "basically build an innovation-driven, internationally-oriented, comprehensive, world-class enterprise," and accelerating its progress along the path of high-quality development. The conference aimed to achieve decisive progress and landmark results in the "Third Entrepreneurship," striving to contribute more to China's modernization.

China Merchants Group Holds 2026 Work Conference

At the business operations meeting, Miao Jianmin, Secretary of the Party Committee and Chairman of the Board of Directors of the Group, delivered a speech, and Shi Dai, Deputy Secretary of the Party Committee and General Manager of the Group, gave a report. Group leaders, external directors, senior executives, and principal leaders of second-tier company headquarters departments, China Merchants Bank headquarters departments, third-tier companies, and China Merchants Bank subsidiaries attended the meeting. At the meeting, it was announced that in 2025, the Group's overall performance remained stable and improved, with total profit reaching 228 billion yuan and net profit reaching 187.9 billion yuan, both showing year-on-year growth. Total assets reached approximately 15.6 trillion yuan, a 7% increase from the beginning of the year. The Group has received an A-level rating in the performance evaluation of central enterprise leaders for 21 consecutive years, further highlighting its leading position among central enterprises, with its core functions continuously strengthened and core competitiveness continuously enhanced.

At the Party building work conference and the meeting on Party conduct and anti-corruption work, Miao Jianmin delivered a speech, Shi Dai gave a report, and Gong Liyun, head of the Group's Discipline Inspection and Supervision Group and member of the Group's Party Committee, conveyed the spirit of the Fifth Plenary Session of the 20th Central Commission for Discipline Inspection and the spirit of the State-owned Assets Supervision and Administration Commission of the State Council's meeting on Party conduct and anti-corruption work and delivered a speech. A cautionary education film was shown at the meeting. Group leaders and senior executives, as well as key personnel from the headquarters of second-tier companies and relevant departments of China Merchants Bank, and principal leaders of third-tier companies and subsidiaries of China Merchants Bank attended the meeting.

Business Operations Meeting

In his speech, Miao Jianmin stated that in 2025, the entire group resolutely implemented the decisions and deployments of the Party Central Committee, adhered to the principle of stability first and seeking progress while maintaining stability, rose to the challenge, seized opportunities, and exceeded expectations in achieving its business targets. Despite multiple pressures, it maintained positive growth, demonstrating strong resilience. Looking back on the "14th Five-Year Plan," the group forged ahead bravely along the guidance of General Secretary Xi Jinping and the Party Central Committee, comprehensively accelerating its "Third Entrepreneurship," writing a new chapter of strategic transformation and innovative development, a new chapter of serving the overall situation and taking responsibility for the country, a new chapter of navigating cycles and overcoming obstacles, and a new chapter of governing the Party and leading with Party building, successfully forging a path of high-quality development.

Miao Jianmin emphasized that the "15th Five-Year Plan" period is a crucial period for the Group to comprehensively accelerate its "Third Entrepreneurship" and strive to build a world-class enterprise. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the Group must scientifically formulate and thoroughly implement its "15th Five-Year Plan" strategic plan, be pioneering and at the forefront, seize opportunities and ride the wave of progress, and go all out to achieve decisive progress and landmark results in the "Third Entrepreneurship." The Group must take the lead in firmly establishing its strategic direction and building a world-class enterprise; in strengthening innovation-driven development and developing new productive forces; in bravely shouldering its responsibilities and enhancing its core functions; in focusing on its main business and optimizing its industrial structure; and in coordinating development and safety and preventing and resolving risks. The Group must strive to create new brilliant achievements in China's modernization.

Miao Jianmin stressed that by 2026, the Group must earnestly implement the decisions and deployments of the Party Central Committee and the work requirements of the State-owned Assets Supervision and Administration Commission of the State Council. It must prioritize development quality and growth efficiency, activate innovation as the primary driving force, make good use of reform as a key strategy, adhere to the general principle of seeking progress while maintaining stability, and strive to achieve "five improvements and five innovations."

▸First, operations must "improve quality" and strive for excellence. Seize opportunities to optimize incremental growth, resolutely revitalize existing assets, and meticulously control costs.

▸Second, innovation must "accelerate" and increase efficiency. Technological innovation hinges on accelerating breakthroughs and the transformation of research results; innovation in emerging industries hinges on accelerating cluster development; and innovation in traditional industries hinges on accelerating iterative upgrading.

▸Third, reform must "improve efficiency" and strive for innovation. Enhance management efficiency, stimulate innovation vitality, unleash development momentum, and focus on promoting in-depth reforms in newly acquired enterprises.

▸Fourth, strategic layout must "enhance capabilities" and strengthen capabilities. Optimize regional business layout and enhance the capabilities, level, and efficiency of domestic and international business layouts.

▸Fifth, safety must "enhance" and ensure stability. Focus on key areas and crucial links, and comprehensively improve risk prevention levels and inherent safety capabilities.

In his work report, Shi Dai pointed out that over the past year, the entire group has kept in mind General Secretary Xi Jinping's instructions, proactively responded to changes, maintained overall stability, and opened up new prospects. Through benchmarking and concerted efforts, the group achieved steady progress in operating performance, improved quality and efficiency, transformed and upgraded its industrial development, deepened reform and innovation, and demonstrated its value by actively serving the overall situation. Its management was refined, precise, and effective. The group successfully completed all tasks of the "14th Five-Year Plan," delivering a high-level reform report, a high-standard innovation report, and a high-quality development report.

Shi Dai emphasized that 2026 is the first year of the "15th Five-Year Plan." The group must refine its "15th Five-Year Plan" strategic plan into a detailed "blueprint," demonstrating the courage to break through barriers and the perseverance to improve quality, efficiency, and stable growth. It must ensure steady progress and continuous improvement in key operating indicators such as profit margins and profit ratios, making innovation-driven momentum stronger, international characteristics brighter, comprehensive advantages more prominent, and world-class status more substantial, striving to achieve positive profit growth and achieve a successful start to the "15th Five-Year Plan."

▸First, we will strive to ignite a new engine of innovation-driven development. Technological innovation must be rapidly transformed and applied; industrial innovation must accelerate breakthroughs; and institutional innovation must strengthen systemic integration.

▸Second, we will strive to unlock new advantages of comprehensive central state-owned enterprises. Our transportation and logistics business must enhance its "excellence"; our comprehensive financial business must highlight its "strength"; our real estate and park business must solidify its "stability"; and all business units must strengthen the concept of "integration."

▸Third, we will strive to explore new spaces for international development, continuously extending our "roots in Hong Kong," continuously increasing our "overseas cultivation," and continuously addressing shortcomings in international operations.

▸Fourth, we will strive to create a new landscape of world-class corporate governance, strengthening our lean operational control capabilities, building a comprehensive defense line for safe development, consolidating strategic support for human resources, and cultivating a rich cultural foundation for a century-old business tradition.

Party Building Work Conference

Party Conduct and Anti-Corruption Work Conference

Miao Jianmin fully affirmed the achievements of the Group's Party building, party conduct and anti-corruption work during the "14th Five-Year Plan" period and until 2025. He put forward clear requirements, focusing on studying and implementing the spirit of General Secretary Xi Jinping's important instructions on the work of central enterprises, and accelerating the construction of a new pattern of Party building work more adapted to the responsibilities and missions shouldered on the new journey.

▸First, uphold and strengthen the Party's overall leadership, deeply understand the decisive significance of the "two establishments," resolutely uphold the "two safeguards," always maintain a high degree of consistency with the Party Central Committee in thought, politics, and action, implement the major decisions and deployments of the Party Central Committee without compromise, unify thinking, will, and action with the Party's innovative theories, and improve the organizational system that is interconnected and effective in execution.

▸Second, strengthen the construction of the enterprise's leadership team. It is necessary to cultivate backbone personnel capable of shouldering great responsibilities in the continuous development of the enterprise, emphasize the construction of the leadership team's political capabilities, establish and practice a correct view of performance, strengthen the construction of democratic centralism in the leadership team, and select and appoint outstanding leaders at all levels.

▸Third, to solidify the responsibility for governing the Party, we must strengthen fundamental guarantees through advancing the Party's self-revolution, improve the Party building responsibility system with clearly defined subjects and hierarchical transmission, construct a scientific, standardized, and excellence-driven first-class Party building work system, and deepen a precise, powerful, and grassroots-reaching Party building management system.

▸Fourth, to promote the integration of Party leadership into all aspects of corporate governance, we must optimize systems and mechanisms through further deepening reforms, integrating it into the organizational structure to ensure Party leadership is deeply rooted, integrating it into decision-making procedures to ensure substantive oversight by the Party committee, and integrating it into execution supervision to ensure the thorough implementation of decisions and deployments.

▸Fifth, to promote the deep integration of Party building work with production and operation, we must activate grassroots momentum by forging strong fortresses and solve the problems of "ideological understanding," "path methods," and "mechanism guarantees."

▸Sixth, to strive to create a clean and upright political environment, we must build strong synergy in rectifying conduct, enforcing discipline, and combating corruption, make genuine efforts to improve systems, seek practical results in strengthening supervision, maintain zero tolerance for corruption, and persevere in rectifying the "four forms of undesirable work styles."

Shi Dai delivered a report on Party building, Party conduct and anti-corruption work. She stated that over the past year, the Group's Party Committee earnestly studied and implemented the spirit of the 20th National Congress of the Communist Party of China and its subsequent plenary sessions, thoroughly implemented General Secretary Xi Jinping's important expositions on the reform, development, and Party building of state-owned enterprises, adhered to governing the Party with a spirit of reform and strict standards, focused on carrying out in-depth study and education on the spirit of the Central Committee's Eight-Point Regulation, took the consolidation and expansion of the results of the central inspection and rectification as a guide, and strengthened Party building through management as a key measure, thus writing a high-quality answer sheet for Party building to lead and guarantee high-quality development. Since the "14th Five-Year Plan," the Group's Party Committee has firmly grasped the general requirements of Party building in the new era and the characteristics of Party building work in state-owned enterprises, and with unprecedented efforts, strengthened Party building, enhanced the foundation, and promoted integration, achieving a series of substantial improvements and overall leaps, building the "four pillars and eight beams" of Party building leadership for the Group's comprehensive acceleration of the "third entrepreneurial undertaking."

Shi Dai emphasized that during the 15th Five-Year Plan period, the main tasks of the Group's Party building, Party conduct and integrity building, and anti-corruption work are to promote comprehensive and strict Party governance with higher standards and more practical measures, to maintain the right direction, build a strong team, and create a sound ecosystem, achieving a leap from "laying the foundation and shaping" during the 14th Five-Year Plan to "improving quality and efficiency" during the 15th Five-Year Plan. In 2026, efforts will focus on: political leadership, improving quality and efficiency through benchmarking and implementation; ideological guidance, improving quality and efficiency through in-depth study and internalization; organizational building, improving quality and efficiency through categorized guidance and integrated implementation; talent development, improving quality and efficiency through management and supervision and incentives; united front work and mass organizations, improving quality and efficiency through in-depth implementation and pooling resources; and comprehensive and strict Party governance, improving quality and efficiency by curbing new corruption and eliminating existing corruption.

Gong Liyun

Gong Liyun pointed out that in 2025, Party organizations at all levels within the Group resolutely implemented the decisions and deployments of the Party Central Committee and the Central Commission for Discipline Inspection regarding comprehensively and strictly governing the Party, firmly shouldered political responsibility, and resolutely upheld the principles of integrity, discipline, and anti-corruption, achieving significant results in the Group's Party conduct and anti-corruption work. The Group's discipline inspection and supervision institutions at all levels focused on their core responsibilities, faithfully performed their duties, rectified misconduct, punished corruption, and dared to fight, resulting in a comprehensive restructuring and a new phase in the Group's discipline inspection and supervision work, greatly boosting morale and confidence.

Gong Liyun emphasized that in 2026, it is crucial to deeply understand the spirit of General Secretary Xi Jinping's important speech at the Fifth Plenary Session of the 20th Central Commission for Discipline Inspection, unify thoughts and actions with the deployments and requirements of the Fifth Plenary Session, adhere to the Party's leadership, strengthen Party building, comprehensively and strictly govern the Party, maintain high-pressure deterrence, and continuously purify the political environment, providing a strong guarantee for the smooth start of the Group's "15th Five-Year Plan." We must profoundly understand the significant judgment that the anti-corruption struggle situation remains "two stills," maintain our political resolve to always be on the move, resolutely fight corruption, and firmly follow the path of anti-corruption with Chinese characteristics under the centralized and unified leadership of the Party Central Committee, addressing both the symptoms and root causes of corruption in an integrated manner to ensure that officials dare not, cannot, and do not want to be corrupt. We must profoundly understand the important assertion that "the Party's self-revolution focuses on governing power," strictly supervise power, strengthen the implementation of systems, and create a strong atmosphere of compliance with rules and regulations and strict adherence to orders. We must profoundly understand the important requirements of "three more," advancing the comprehensive and strict governance of the Party with higher standards and more concrete measures, and safeguarding the "third entrepreneurial undertaking" with strict discipline.

The meeting also held an award ceremony for the "Loyal Heart Award," "Pillar of the Nation Award," and "Innovation Award," as well as a badge-wearing ceremony for the newly promoted group executives in 2025. The "Loyal Heart Award" was awarded to 764 employees including Kou Suiqi, the "Pillar of the Nation Award" was awarded to 10 individuals including Jiang Jian, and the "Innovation Award" was awarded to 7 advanced innovative collectives including China Merchants Bank and 3 advanced innovative individuals including Wu Jiongdong of China Merchants Shipbuilding. Group leaders presented awards to the award recipients and bestowed badges upon the newly promoted group executives.