China's top state-owned assets regulator said on Wednesday that China will launch a restructuring and consolidation campaign to manage state-owned enterprises this year, with a focus on areas such as information and communications, new energy and equipment manufacturing.
Li Bing, deputy secretary-general of the State-owned Assets Supervision and Administration Commission, said at a press conference in Beijing that in addition to better stimulating the growth of strategic emerging industries, these measures will encourage enterprises to explore opportunities and cultivate new advantages.
Li said: "Deepening strategic cooperation within the industrial chain ecosystem and accelerating the development level of the modern industrial system will be the priority of the top enterprises this year." ”
In 2023, China carried out a series of restructuring and integration activities to improve the efficiency of enterprise resource allocation. For example, China Electronics Technology Group Corporation completed the reorganization of China Hualu Group in November, consolidating its advantages in the field of electronic information and enhancing its ability to focus on key technology products.
The State-owned Assets Supervision and Administration Commission said that the total profit of central enterprises reached 26 trillion yuan (3623.)600 million US dollars), operating income reached 398 trillion yuan.
In 2023, ** corporate fixed asset investment (including real estate) increased by 114%, up to 509 trillion yuan.
Among them, in 2023, the first enterprise will invest in strategic emerging industries 218 trillion yuan, a year-on-year increase of 321%。SASAC said their R&D spending reached $11 trillion yuan, exceeding the milestone of 1 trillion yuan for two consecutive years.
Last year, companies launched a number of key projects in areas such as hydrogen production, carbon fiber manufacturing, and automotive chips. They have also established new businesses in several industries, including laser manufacturing, quantum communications, and satellite internet.
In the past year, China has actively promoted structural adjustment and integration in the fields of electronic technology, new energy, environmental protection, and intelligent networked vehicles. Secretary-General Zhuang Shuxin said that these measures have led to the emergence of new industries and innovative business models, which have greatly promoted the development of enterprises.
Yuan Ye, vice chairman of the State-owned Assets Supervision and Administration Commission, said that the main focus of this year's work is to promote industrial innovation through technological progress, accelerate the growth of new production capacity, and promote the process of modern industrialization.
* A two-pronged approach will be maintained, giving priority to strategic emerging industries and traditional industries," Yuan said, adding that development strategies for new industries and new ways will be actively formulated to support the transformation and upgrading of traditional industries, effectively enhance the resilience and security of industries and chains, and provide better support for the establishment of a modern industrial system.
Backed by strong industrial and technological chains and years of technological progress, state-owned enterprises are expanding their presence in more competitive areas.
The first domestically built large cruise ship – the Adora Magic City – completed its first commercial voyage earlier this month, and its builder, Shanghai Waigaoqiao Shipbuilding***, said the company is a subsidiary of the Shanghai state-owned China State Shipbuilding Corporation.