Xi delivers instructions on work of central SOEs

President Xi Jinping recently delivered important instructions on the work of the state-owned enterprises (SOEs) directly administered by the central government, noting that since the 18th National Congress of the Communist Party of China (CPC), central SOEs have earnestly implemented the decisions and arrangements of the CPC Central Committee, actively served national strategies, and played a pivotal and backbone role in the development of the national economy. 

Xi, also general secretary of the CPC Central Committee and chairman of the Central Military Commission, emphasized that on the new journey, central SOEs must fully recognize their bounden responsibilities and missions, better serve the overall work of the Party and the country, facilitate the high-quality economic and social development, and play their due role in securing and improving people's well-being. They should proactively shoulder social responsibilities and make greater contributions to advancing Chinese modernization. He stressed that central SOEs should focus on their core businesses and main responsibilities, continuously optimize the layout of the state-owned economy, and effectively strengthen their core functions and enhance their core competitiveness. Central SOEs should focus on the real economy, intensify efforts to make breakthroughs in core technologies in key fields, and promote the deep integration of technological innovation with industrial innovation. They should further deepen reforms, improve the modern corporate system with Chinese characteristics, refine the corporate governance structure, and resolve with great efforts deep-seated problems that constrain enterprise development, striving to build themselves into world-class enterprises. They should also ensure both development and security, effectively prevent and defuse risks, and continuously consolidate the foundation for the safe development of enterprises, Xi said.

Xi emphasized that central SOEs must uphold and strengthen the Party's overall leadership, enhance the building of enterprise leadership teams, hold those in charge accountable for Party governance, incorporate Party leadership into all aspects of corporate governance, and promote the in-depth integration of Party building with corporate production and operation. Xi called on central SOEs to improve systems, strengthen supervision, resolutely combat corruption, persistently rectify pointless formalities, bureaucratism, hedonism, and extravagance, and strive to foster a clean and upright political ecology.

The meeting of heads of central SOEs was held in Beijing on December 22 and 23, and Xi's important instructions were conveyed at the meeting. Li Qiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and premier of the State Council, attended and addressed the meeting.

Li pointed out in his speech that General Secretary Xi's important instructions put forward clear requirements for and earnest expectations of central SOEs. The instructions hold significant strategic and guiding significance and further chart the course for the work of central SOEs. We must thoroughly study them and ensure they are implemented in an earnest manner.

Li pointed out that the 15th Five-Year Plan period (2026-2030) is a critical phase for solidifying the foundation and propelling comprehensive efforts to basically realize socialist modernization. As such, central SOEs must align their thinking and actions with the Party Central Committee's sound assessment of the situation and its decisions and plans. They should further clarify their roles, identify their positioning, and effectively shoulder their responsibilities and missions. They must provide robust support in advancing major infrastructure development, accelerate the renewal of traditional infrastructure and their digital and intelligent transformation, and appropriately advance the construction of new types of infrastructure. They must take the lead in ensuring the autonomy and controllability of industrial chains and supply chains, develop emerging and future industries in line with their principal responsibilities and main tasks, ensure the supply of energy and resources, and enhance the resilience of industrial chains. They must also strengthen basic support in achieving high-level self-reliance and strength in science and technology, bolster applied basic research, and improve the supply of key and common technologies. They should act proactively in serving major national strategies and contribute more to overall development. They should deepen the reform of state-owned assets and themselves, taking the lead in optimizing the layout of the state-owned economy, improving the modern corporate system, and enhancing the efficiency of supervision over state-owned assets. Party leadership must be upheld throughout all aspects and the entire process of reform and development, and full and rigorous Party self-governance must be further advanced on all fronts, so as to foster a clean and upright political environment.

Li emphasized that heads of central SOEs should fulfill their duties with a more proactive and enterprising spirit, strengthen their awareness of the overall situation, grasp the principal issues, have the courage to promote reform and innovation, and enhance their capacity to handle complex situations and resolve prominent problems, so as to lead their enterprises to continuously break new ground in reform and development.

The meeting was chaired by Vice Premier Zhang Guoqing, with State Councilor Wu Zhenglong in attendance.

Leading officials from relevant central Party and state departments, as well as those from central SOEs and centrally administered financial institutions, attended the meeting.