On this day, 38 years ago, on November 16, 1987 (September 25, 1987, lunar calendar), Jialing Group, my country's first joint-stock group, was established. Jialing Group Logo On November 16, 1987, my country's first joint-stock group-China Jialing Industrial Corporation (Group) was announced for its establishment in Chongqing, becoming another enterprise group with a separate plan in my country. State Councilor Zhang Jinfu attended the meeting to congratulate and cut the ribbon. China Jialing Industrial Company Limited (Group) is an equity-based enterprise integrating military and civilian technologies. All its shares are divided into state-owned shares, publicly owned enterprise shares, enterprise collective shares and individual employee shares. The company (group) establishes a property rights management committee and an operation management committee. The company implements the general manager responsibility system based on the democratic decision-making of the operation management committee. The first batch of enterprises of China Jialing Industry Co., Ltd.(Group) consists of five enterprises including the state-owned Jialing Machinery Factory. Its predecessor was the "Jialing Motorcycle Economic Consortium" established seven years ago. In the past seven years, this consortium has produced more than 850,000 motorcycles of various types, accounting for 50% of the total domestic production. The establishment of China Jialing Industrial Co., Ltd.(Group) with the approval of the State Economic Commission, the State Commission for Restructuring and the State Planning Commission will become a close-knit joint-stock group integrating asset production. Zhang Jinfu said: "This is a reform experiment to explore a China-style socialist enterprise model. I hope it will make useful explorations in using minimum input and maximum output and optimizing the economic structure and product structure of our enterprises."