On April 27, the State-Owned Assets Supervision and Administration Commission of the State Council officially announced that it has compiled a list of “Model Tech Companies in Reform” which have completed the registration, following the video conference on April 8 by the Leading Group for State-owned Enterprise Reform under the State Council on mobilization and deployment of the “Action of Model Tech Companies in Reform”, a special campaign to deepen market-oriented reforms and improve independent innovation capabilities of hundreds of technology companies.

CASCO was successfully selected and became one of 204 “Model Tech Companies in Reform" nationwide. As a high-tech company representative, CASCO’s being in the list not only speaks volume on its overwhelming sense of responsibility, mission, initiative and responsibility for enhancing independent innovation capabilities, but also sparks CASCO’s passion to continuously develop and deepen market-oriented reforms, stimulate company vitality, and truly facilitate development by innovation.

“Action of Model Tech Companies in Reform” is another state-owned enterprise reform project following the "double hundred actions" and "regional comprehensive reform experiments" of state-owned enterprise reform. The Action chose 200 plus state-owned tech companies which are in urgent needs to reform and innovate under the premise of effectively strengthening the Party's overall leadership over state-owned enterprises and resolutely preventing the loss of state-owned assets. In accordance with the requirements of high-quality development, it aims to deepen market-oriented reforms, focuses on measures such as improving corporate governance, market-based talent selection and employment, and strengthening incentives and restrictions to explore innovation and achieve breakthroughs, so as to create successful models for state-owned tech company reform and top tech companies for independent innovation, in turn repeating these success stories on a larger scale.

In this “Action of Model Tech Companies in Reform", with the goal of building a world-class company with global competitiveness in rail transit signaling system in support of building China into a country with strong transportation network, CASCO will focus on reform on five major aspects—corporate governance system, market-based talent selection and employment, market-based incentive and restrictions mechanism, technological innovation and transformation, and the party building system. It is determined to accelerate the pace of reform, ensure development momentum, continue to innovate while carrying out reforms and development, and strive to build a benchmark “Model Tech Company in Reform”, thus making a positive contribution to the development and construction of rail transit in China.