State-owned Assets Supervision and Administration Commission of the State Council: Focus on strengthening the leading role of state-owned enterprises in technological innovation, cultivating technological leading enterprises, accelerating the application of research results, and fostering a good innovation ecosystem.

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held a meeting in Beijing for local state-owned assets supervision and administration authorities. The meeting emphasized the need to solidly carry out the key tasks of state-owned assets and state-owned enterprises by 2026, ensuring a good start and progress in the 15th Five-Year Plan. Efforts should be made to promote quality improvement, efficiency enhancement, and stable growth, strengthen goal-oriented leadership, improve growth quality, enhance market development, tap growth potential, and facilitate economic circulation. The meeting also stressed the importance of strengthening the role of state-owned enterprises in technological innovation, nurturing leading technology companies, accelerating the application of research results, and fostering a favorable innovation ecosystem. Additionally, there should be an emphasis on optimizing the layout and restructuring of the state-owned economy, focusing on promoting the concentration of state-owned capital, optimizing and upgrading traditional industries, and building new pillar industries. Furthermore, the implementation of further deepening reforms of state-owned assets and enterprises should be advanced, improving the modern enterprise system with Chinese characteristics and enhancing market-oriented operation mechanisms. Efforts should also be made to promote professional, systemic, legal-based, and efficient supervision, improving the state-owned assets supervision system, and effectively strengthening the supervision of overseas state-owned assets. Attention should be given to preventing and resolving major risks, adhering to the principles of risk prevention and control, effectively preventing and controlling risks in key areas, establishing a long-term mechanism, and ensuring that the bottom line of no systematic risk occurs is firmly held.