Focus on high-quality development of SOEs

The State-owned Assets Supervision and Administration Commission of the State Council recently convened a meeting of local assets supervision and administration commissions and asked them to expedite reform, strengthen supervision of State-owned assets and boost high-quality development of State-owned enterprises.

The meeting resolved to realize the goals set by the Fourth Plenary Session of the 19th Communist Party of China Central Committee, which decided to explore various forms of public ownership and improve the distribution mechanism of the State sector, develop a mixed-ownership economy, enhance the State sector's competitiveness and innovation capability, and reduce financial risks, in order to optimize and increase State capital.

The meeting of the heads of central SOEs convened earlier had emphasized the importance of improving the performance assessment indicators such as net profit, total profit, assets-liability ratio, profit margin, and research and development input to stimulate high-quality development of the SOEs and help them play a bigger role in technological innovation.