State-owned Assets Supervision Commission Maps Out High-quality Development for State-owned Enterprises in 14th Five-Year Plan
China’s State-owned Assets Supervision and Administration Commission (SASAC) held an expanded meeting of its Party Committee on March 16, according to information released on March 17. Building on the study and transmission of important speeches delivered at relevant groups and delegations during the National Two Sessions on March 9, the meeting further deepened the study and implementation of the spirit of the National Two Sessions, mapped out specific measures for implementation, and focused on advancing the high-quality development of state-owned assets and central enterprises to lay a solid foundation for a good start of the 14th Five-Year Plan period.
The meeting emphasized that this year’s National Two Sessions is an extremely important event held at the start of the 14th Five-Year Plan period. The Government Work Report and the 14th Five-Year Plan Outline have clarified the main goals, indicators, major strategic tasks and key projects for China’s economic and social development in the current and future periods, serving as a guide for practical work and future development.
It was stressed at the meeting that central enterprises should continue to act as a stabilizer and ballast stone for the national economy. They are required to accurately grasp changes in the situation, formulate scientific and reasonable business objectives, expand development space, and improve operational quality. Focusing on key areas and new fields, central enterprises should proactively plan and implement a number of major projects and landmark projects, expand effective investment, fulfill their main responsibilities, and firmly keep the bottom line of preventing systemic risks.
To foster new quality productive forces, central enterprises should take the lead in advancing high-level scientific and technological self-reliance and building a modern industrial system. Efforts will be made to strengthen original innovation and tackle key core technologies, increase the proportion of investment in basic research, open up application scenarios, accelerate the transformation of scientific and technological achievements into practical productive forces, deepen the "AI+" special action for central enterprises, promote digital and intelligent transformation, and cultivate a number of emerging pillar industries based on their own characteristics.
The meeting also highlighted the need to further deepen the reform of state-owned assets and state-owned enterprises. Centering on promoting the "three concentrations" of state-owned capital, efforts will be made to optimize the layout and adjust the structure of the state-owned economy, improve the modern enterprise system with Chinese characteristics for central enterprises, deepen the reform of the three major systems, strengthen salary management to stimulate enterprise vitality, and improve the supervision system for state-owned assets. The "one enterprise, one policy" classified assessment will be deepened to enhance the effectiveness of penetrating supervision and boost the core functions and competitiveness of state-owned enterprises.
In addition, central enterprises are required to firmly serve the national strategic overall situation, safeguard national security, help build a new development pattern, enhance the ability of global resource allocation, strengthen the guarantee and stable pricing of basic products, continuously improve people’s well-being, and contribute to promoting common prosperity. The meeting also stressed unswervingly advancing comprehensive and strict Party self-governance, consolidating the achievements of the National Conference on Party Building in State-owned Enterprises, carrying out education on establishing and practicing a correct view of political achievements, and fostering a sound political ecology.
