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SASAC and Central SOEs Actively Attend 2023 Summer Davos

Updated: July 03, 2023


On June 27, Zhang Yuzhuo, Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), attends the opening of the 14th Annual Meeting of the New Champions, also known as Summer Davos, held in Tianjin. [Photo/sasac.gov.cn]

On June 27, Zhang Yuzhuo, Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), attended the opening of the 14th Annual Meeting of the New Champions, also known as Summer Davos, held in Tianjin. 

Zhang also attended a session themed on "Braving the Headwinds: Rewiring Growth Amid Fragility", where he held in-depth discussions with Prime Minister Mia Mottley of Barbados, Prime Minister Chris Hipkins of New Zealand, Prime Minister Pham Minh Chinh of Vietnam, and Director-General of the World Trade Organization Ngozi Okonjo-Iweala, on such topics as the current economic situation, promoting green development, implementing scientific and technological innovation, invigorating enterprises, and expanding opening-up and cooperation. Zhang expressed his hope to jointly contribute to the stable development of the world economy by upholding mutual benefit, expanding opening-up and cooperation, and joining hands in innovation.

Zhang said that President Xi Jinping has attended the World Economic Forum several times and delivered a series of important speeches, in which he put forward the fundamental solutions to promoting the stable recovery of the global economy, a realistic path to bridge the development gap, and an approach to promote cooperation among countries, injecting strong confidence and strength into the international community. At present, the Chinese economy on the whole is recovering and accelerating its growth pace, as Chinese enterprises are showing vitality with a strong growth momentum. China's state-owned enterprises (SOEs), especially central SOEs, are beefing up efforts to promote high-quality development through opening-up and cooperation, and inject impetus into economic development through their transformation in quality, efficiency and growth engine. 

In the next step, SASAC will further encourage central SOEs to focus on improving efficiency and deepening reform, vigorously carry forward entrepreneurship, and accelerate the creation of new and modern SOEs with new development modes, new corporate governance, new operating mechanisms and new layout structures. It will promote central SOEs to focus on enhancing their capability for scientific and technological innovation, seize the opportunities brought about by the new round of scientific and technological revolution and industrial transformation, strengthen innovation-driven technological breakthrough, actively develop strategic emerging industries, and constantly create new dynamics and advantages for development. Focusing on expanding high-level opening-up and cooperation and on high-quality participation in the construction of the Belt and Road, Chinese central SOEs should also better integrate into the global market, participate deeply in the global division of labor, make the cake of common interests bigger, and increase certainty and inject stability into economic development.

During the forum, Zhang held talks with Prof. Klaus Schwab, Executive Chairman of the World Economic Forum. Top executives of several central SOEs participated in sub-forums and interacted with participants from home and abroad, noting that cooperation between enterprises is an important part of economic cooperation between countries. They said that Chinese central SOEs are willing to continuously enhance understanding and mutual trust with their international partners in order to make greater contributions to the high-quality development of the Chinese and global economy. They also expressed their willingness to tap into such emerging areas as the digital economy, artificial intelligence and advanced manufacturing while deepening cooperation in traditional fields, consolidating the consensus that decoupling with others and severing supply chains is not feasible when addressing global challenges, and that opening-up and cooperation is the correct way forward. 

(Executive editor: Hao Wen)