It’s underscored that the central state-owned enterprises (SOEs) should fulfill their responsibilities by serving China’s overall development plan, promoting the high-quality social and economic development, and safeguarding people’s livelihoods, thereby advancing Chinese modernization.
As pillars of the national economy, these enterprises have made significant progress in key areas.
Ballooning Strength
This year witnessed numerous groundbreaking achievements, including the world’s first supercritical CO2 power generator and the world’s largest integrated green hydrogen-ammonia-methanol project, and the maiden flight of the Jiutian heavy-lift drone.
With a focus on advancing independent innovation, central SOEs played a vital role in national innovation. They opened 134 pilot-scale testing platforms to the public, offering 291 specialized services. A total of 121 landmark achievements were realized in 97 original technology innovation hubs among central SOEs.
During the 14th Five-Year Plan (2021-25), central SOEs total capital grew from 70 trillion yuan ($9.98 trillion) to 90 trillion yuan. With accumulative R&D expenditure exceeding 5 trillion yuan, they increased investment in emerging industries by more than 20 percent, and trained more sci-tech talents, enhancing their scale, value and brand influence.
Industry Upgrading
This year, central SOEs harnessed scientific and technological innovation to drive industry upgrades, thus fostering more new quality productive forces and pushing forward development in key areas.
Significant efforts were made to ensure independent control over the entire industrial chain. The phase II project of China’s first independently-developed ultra-deep water gas field Deep Sea No. 1, constructed by China National Offshore Oil Corporation, became operational. The No.1 unit of China’s domestic nuclear project Guohe One, constructed by State Power Investment Corporation Limited with independently developed third-generation nuclear technology, was connected to the power grid and generated electricity. These key breakthroughs on technology safeguarded the country’s industrial independency.
Emerging industries thrived, with 115 “sailing enterprises” achieving 438 technological breakthroughs. Central SOEs also launched special initiatives to strengthen the application of artificial intelligence, transforming 1,854 factories into digital, smart workshops.
Green development was facilitated as well. CECEP SOLAR, a subsidiary of China Energy Conservation and Environmental Protection Group (CECEP), utilized photovoltaic technology to churn out solar products. A “blue sea” of photovoltaic panels on factory roofs were capable of generating 12.54 million kilowatt-hours, meeting one-third of the company’s power needs. During the 14th Five-Year Plan, central SOEs reduced energy consumption per 10,000 yuan by 12.8 percent and CO2 emissions by 13.9 percent.
(Executive editor: Yuan Ting)
