How will SASAC help central SOEs achieve high-quality development?

For central State-owned enterprises (SOEs), many of them have a large business scale, but they still need to make more efforts to meet the requirements and pursue high-quality development. Last year, 48 central SOEs made the list of Fortune Global 500 companies, on which State Grid, China Petroleum and Chemical and China National Petroleum ranked second, third and fourth respectively.  

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) will help central SOEs accelerate the transformation and upgrading of their manufacturing, for example by helping them to increase their capabilities in high-end equipment production.

It will help central SOEs pour more resources into strategic emerging industries to form new driving forces in economic growth, like fifth generation mobile communication technology and large widebody aircraft research and development.

Central SOEs shall always follow high-quality and profit-oriented development principles, increase management efficiency, cut excess capacity and advance management and operation mechanisms. 

To achieve high-quality development, central SOEs shall not only learn from the international first-class companies, but also seek opportunities to cooperate with them, as well as to partner with Chinese private companies by developing mixed-ownership economic entities.

(Executive editor: Hao Wen)