Hubei State-owned Enterprises Boost "Pillar Construction" with Solid Actions and New Achievements

Centering on serving national major strategies and the provincial "Pillar Construction" goal, Hubei’s state-owned enterprises (SOEs) have fully played their role as the "backbone" and "ballast stone" of the economy. They have transformed key tasks of "Pillar Construction" into practical actions, demonstrating new responsibilities and achievements in advancing the construction towards decisive progress.

To consolidate the foundation for stable growth, Hubei SOEs have continuously focused on expanding effective investment and promoting major projects. The Shuangliu Yangtze River Bridge, spanning the Yangtze River, has been opened to traffic, turning a natural barrier into a thoroughfare. The Hubei section of the Xiyan High-speed Railway has completed its main structure and entered the final sprint stage of joint commissioning and testing, ushering the Qinba Mountain area into the "high-speed rail era".

The northern section of the Beijing-Hong Kong-Macao Expressway in Hubei has been upgraded from four to eight lanes and put into use, making the north-south artery more unobstructed. Ezhou Huahu International Airport has become the largest air cargo transit center in China, injecting strong momentum into Hubei’s "air gateway". China Daily reports that these major infrastructure projects have provided robust impetus for Hubei’s economic and social development.

In fostering new quality productive forces, Hubei SOEs have insisted on pursuing innovation and laid out future industries. They have implemented a three-year doubling project for emerging industries, investing in new fields such as artificial intelligence, biomedicine and low-altitude economy based on local conditions. Changjiang Hangte, affiliated to Changjiang Industry Group, has become China’s first airship commercial operator, while Hubei Airport Group has built a provincial low-altitude flight service platform to embrace the "blue sky economy".

R&D investment of provincial SOEs has maintained a high growth rate of over 20% for five consecutive years. Hubei Communications Investment Group has established the province’s first double academician workstation, and Hubei Water Development Group has been approved as the provincial water-saving technology innovation center. International Online reports that over 60% of top 100 enterprises in Hubei have increased R&D investment to boost new quality productive forces.

In deepening SOE reform, Hubei has promoted the transformation of real industries, established a monitoring platform for provincial SOEs and mapped key industrial development. It has strengthened integration of science and industry, and expanded the "venture capital + industrial investment" fund matrix. Changjiang Industry Group has built a "2+3+3+2" state-owned fund ecosystem, bringing more financial support to industrial development.

Hubei SOEs have also fulfilled their social responsibilities in green development and people’s well-being. Hubei Communications Investment Group has built a "Hubei benchmark" for hydrogen energy transportation, and Changjiang Industry Group has set up an ecological and environmental protection research institute. Hubei United Investment Group has put over 40,000 affordable housing units into operation, and Hubei Culture and Tourism Group has operated 150 community elderly care outlets, serving more than 3 million person-times.

With their solid efforts in infrastructure construction, industrial upgrading, reform deepening and people’s well-being guarantee, Hubei’s state-owned enterprises have effectively promoted the province’s "Pillar Construction", injecting strong vitality into Hubei’s high-quality development and setting a model for state-owned assets to serve regional development.