Mao Yonghong, Chairman of Baibuting Group:Live up to the Name of "ChinaMinsheng", the People’s Livelihood

Mao Yonghong, chairman of Baibuting Group, sends good wishes to the development of CMIG, "to live up to the support and expectation of the country and the profound meaning of 'China Minsheng' ( the people's livelihood of China)”

As a member of the Standing Committee of the CPPCC, vice chairman of the ACFIC and vice chairman of the China Society for Promotion of the Guangcai Program, Mao Yonghong has been committed to being a private entrepreneur with strong sense of social responsibility in the market economy. As one of the sponsor shareholders of CMIG, he also hopes to bring this spirit to the landmark organization of the development of China's private economy.

Born into a peasant family, Mao Yonghong always yearned for living in a decent house. When his teacher taught the lines that "how to obtain millions of spacious houses to accommodate poor scholars and let them happy" written by Du Fu, Chinese poet in Tang Dynasty, Mao Yonghong had a dream of building numerous houses for the ordinary people. The reform and openingup program enabled him to become a private entrepreneur specializing in real estate development and offered him an opportunity to make his dream a reality.

In the face of the disputes and questions over constructing Baibuting Community in those years, Mao Yonghong consistently adhered to three principles for real estate development -- to stand firm in the idea of moral and profit featured by "rational profit, equal emphasis on profit and moral, and moral-orientation", stand firm in realizing the development goal of enabling the public to live and work in peace and contentment, and stand firm in the road to real estate development.

When being asked by other private entrepreneurs that are you a chairwarmer if you build community as an entrepreneur, Mao Yonghong answered that he believes any causes that are required by the Party and country, could give back to enterprise, society and country are right and permanent actions. What he's doing is not just a right action, but also a great deed.

To realize the China Dream, the healthy development and growth of non-public enterprises and personages become more necessary than ever before. Baibuting Community has grown healthily under the test of the government, public and the market economy, and accumulated experience, brand and confidence during its exploration and practice.

The perseverance and commitment of Baibuting under the leadership of Mao Yonghong has won the trust of the state and the public. State leaders Xi Jinping, Li Keqiang, Yu Zhengsheng, Liu Yunshan, and Wang Qishan as well as Wen Jiabao and Li Changchun have spoken highly of the company. Mao Yonghong himself is awarded with the honor title of " the National Model Worker", the first session of "Outstanding Builder of Socialism with Chinese Characteristics" and was once praised by Wen Jiabao as "an good monitor who leads by example", and praised by Li Changchun as "an excellent private entrepreneur with strong sense of social responsibility" and "the most excellent representative of Chinese private entrepreneurs who promotes the construction of cultural environment of community by taking the lead and personal charisma."

CM New Era: What are the development process and achievements of Baibuting Group in recent years?

Mao Yonghong: Baibuting Group is a leader in the community estate industry. Mainly specializing in real estate, shipbuilding and cultue industries, Baibuting has been rated as one of the Top 500 Chinese Service Companies, Top 500 Chinese Private Companies and Top 100 Chinese Real Estate Companies as well as the Chinese Private Enterprise with the Most Sense of Social Responsibility for many years in a row.

Baibuting Group takes "community estate" as its banner. Based on the "peoplefirst, moral-centered, culture-oriented and harmony-driven" core concept and the idea of moral and profit featured by "rational profit, long-term profit and multiwin effect", Baibuting Group has, since the 1990s, kept a foothold in China's realities, drawn experience from international practice, positioned "residence" product as "community" constructed and managed independently, and blazed a new trial in the "Baibuting road of community estate development in China".

Wuhan Baituting Community developed by Baibuting Group covers an area of 4.5 squre kilometer and houses 140,000-plus residents. According to the plan, it will be developed into Baibuting New Town covering an area of 7 square kilometer with 300,000 residents. Baibuting community estate has become a "common property" and "people-first community". Community management and services are perfect where residents live and work in peace and contentment, with incredible peace, warmness and civilization. Residents said with pride that "settling in Baibuting means selecting happy life."

Liu Yunshan, member of the Standing Committee of the Politburo of the CPC Central Committee and secretary of the Secretariat of the CPC Central Committee, noted when inspecting Baibuting that "the management mode of Baibuting Community has an overall, directional and demonstrative significance for improving residents' life quality and urban civilization, promoting reform and development, safeguarding social stability and consolidating the ruling foundation of the Party, and has influenced and facilitated China's community construction."

Baibuting brand enjoys great prestige across China. Thanks to its commitment over the years, Baibuting Group has become a leader in China's community estate industry and the brand of Baibuting community estate has fetched back more than 100 state-level honors, including the Demonstrative Harmonious Community of China awarded by the Ministry of Civil Affairs, China Habitat Environment Example Prize granted by the Ministry of Construction, Demonstrative Commercial Community of China awarded by the Ministry of Commerce, Drug-free Community awarded by the Ministry of Public Security, Model Community awarded by the Central Commission for Guiding Cultural and Ethical Progress of the Communist Party of China, and Excellent Grassroots Party Organization awarded by the Organization Department of the CPC Central Committee. In 2003, the Propaganda Department of the CPC Central Committee, the Central Spirit Civilization Office, the Ministry of Construction and the Ministry of Culture jointly issued a document to replicate the experience of Baibuting Community across China. In 2013, the Organization Department of the CPC Central Committee popularized the "Working Method of Baibuting Community" across China. Baibuting has worked with nearly 10,000 communities in China to launch events in the long term and organized exchanges with over 30 countries and regions. A total of more than 1.2 million people from within and without China have visited Baibuting Community.

State leaders Xi Jinping, Li KEqiang, Yu Zhengsheng, Liu Yunshan and Wang Qishan as well as Wen Jiabao and Li Changchun have spoken highly of Baibuting. When visiting Baibuting in November 2013, Wang Qishan, member of the Standing Committee the Politburo of the CPC Central Committee and secretary of the Central Commission for Discipline Inspection, praised that with fair party conduct and pure folk custom, Baibuting is a role model in China and needs to be replicated across the country.

On top of that, Baibuting has put in place the industrial pattern of coordinated development of "shipbuilding" and "culture". Baibuting has facilitated the healthy development of relevant industries based on its community estate brand. It participates in the national outline and maritime strategy, dedicates itself to thrive China's cultural development and establishes the strategic pattern of synergetic development of troika - real estate development, shipbuilding and culture industry.

Baibuting Group has two shipyards in Liaoning Province and Shandong Province, with an annual shipbuilding capacity of 600,000 dead weight tons. All of its orders are placed by foreign entities and 16 giant ships have been successfully delivered. With regard to the culture industry, it owns two television channels, namely the CCTV-Old Stories and the City Television channels. It has shot 220-plus films and (episodes of) TV plays. Among others, the film Luxury Car won the award of the Best Film of the 59th Cannes International Film Festival.

Looking forward into the future, we're exploring into the development direction of Internet-based community service. Community is the foundation of society and the community of people's life. Community value has been closely followed by the government departments and the market. In June 2014, the Ministry of Civil Affairs held the Annual Meeting of China Community Development in Baibuting and all participants agreed that going forward, community service will be the development direction of China's internal demand market and will surely become an emerging industry. The new community service mode developed by Baibuting Group over the years gets in touch with the network of over 10,000 communities across China, and if being added with the new concept of Internet, it will definitely embrace for a new opportunity for great development.

CM New Era: What's your expectation for the establishment and development of CMIG as a sponsor shareholder of CMIG?

Mao Yonghong: At the critical juncture of economic system reform in China, CMIG has attracted the attention of people from all segments of the society since its official inauguration in August this year. Some argue that the establishment of CMIG is a landmark action of the emphasis on marketization and decentralization by the third Plenary Session of the 18th CPC Central Committee; as the first private company with China in its company name, it points to the responsibility for national economic transition placed by the government in CMIC via the ACFIC and demonstrates the confidence of private capital in the real economy.

CMIG is expected to develop by following the "reliance on three parties, combination in four areas " and develop "in three aspects" - rely on the ACFIC, all shareholders and the operation team of the company; try to realize the combination between national interest and enterprise benefit, combination between social benefit and economic benefit, combination between investors' interest and enterprise benefit, and combination between enterprise benefit and employees' interest; build an excellent leadership, great management team and sound corporate culture. Only in doing so, could it live up to the support and expectation for CMIG by the state and the profound meaning of "China Minsheng".

CM New Era: State leader Xi Jinping noted in his speeches that China needs to unswervingly facilitate structural adjustment and economic transition and upgrading. During this process, what role do you envisage CMIG could play as a large private investment company?

Mao Yonghong: According to the consensus reached by the office meeting of the board of directors, the future strategic positioning of the company is to build it into a financial holding group with industryfinance integration.

First, CMIG is expected to center on the positioning and strategy, align with more private enterprises, reduce the financing cost of enterprises, help private enterprises realize transformation and upgrading, and tap into industrial value through industryfinance integration.

Secondly, CMIG is supposed to unite as one, harness the synergy of all stakeholders and implement the two-step strategy. The first step is to focus on industrial investment, and the second one is to make investment in financial assets on the basis of accomplishing the first step.

Thirdly, CMIG needs to regulate capital operation. Assuming social responsibility is highly important for enterprise development. The company should develop on a sustainable and healthy track, gain recognition from the state and the general public; participate in more projects related to people's well-being and support programs for public good. Our capital operation should be based on healthy industrial development and can't be reduced to money game.

The rapid development of China's private economy has become part and parcel of socialist market economy and an important power of modernization construction. We need to play an important role in adhering to and developing socialism with Chinese characteristics, promoting structural adjustment, transition and upgrading, and in ruling by law and supporting reform.