Shandong SASAC Holds Meeting on Q3 Economic Performance and Technological Innovation of Provincial Enterprises

According to the State-owned Assets Supervision and Administration Commission of Shandong Province, published on 30 October 2026, the authority has convened a meeting to review the economic performance of provincial state-owned enterprises for the first three quarters, and coordinate key work including final-quarter delivery targets, upgrades to technological innovation and further reform.

The meeting noted that provincial enterprises had delivered steady growth alongside improved quality and efficiency amid volatile macroeconomic and market conditions in the first nine months. Profit growth remained sound, operational scope expanded and social contributions strengthened.

The meeting set out requirements for better quality and efficiency. Provincial enterprises must uphold responsibilities for stable growth, scale up effective investment, contain internal costs while exploring external markets, raise asset quality, reduce liabilities gradually and standardise trading operations. Stable expansion by these undertakings will underpin wider provincial economic activity.

It stressed efforts to strengthen independent innovation. Institutional frameworks supporting research and development are to be refined, spending on innovation increased, accounting and statistical rules for R&D funds enforced, collaborative innovation fostered and incentives for research staff enhanced. The enterprises will build hubs for original technological breakthroughs, with innovation steering industrial progress and sharpening core competitive strengths.

The meeting also called for deeper reform. A new round of state-owned enterprise reforms will be rolled out, with new business lines developed in an orderly way. Management of core business activities will be tightened, boundaries of core operations clarified, internal specialised restructuring and reforms of non-listed entities pushed forward, and governance under the rule of law reinforced to unlock internal operational vitality.