SOEs gear up to meet needs of crucial sectors

China's State-owned enterprises will focus on addressing critical needs in fields like aerospace, integrated circuits, machine tools and biotechnology, with the goal of overcoming technical challenges within the country's industrial system, the nation's top State-owned assets regulator said.

In an article published in this year's first issue of the Qiushi Journal, a flagship magazine of the Communist Party of China Central Committee, the State-owned Assets Supervision and Administration Commission of the State Council, or SASAC, said these efforts will boost China's technological capabilities and innovation.

The government will support SOEs in advancing major technological equipment research projects and bridging the foundational and core technology gaps within China's industrial system, the SASAC said in the article.