Senior Chinese officials have reaffirmed their commitment to advancing reforms of state-owned enterprises (SOEs) and assets during a high-level legislative meeting this week. The pledge comes as lawmakers review progress and chart next steps for optimizing China's state sector – a critical pillar of the world's second-largest economy.
At a Monday session of the National People's Congress (NPC) Standing Committee chaired by Chairman Zhao Leji, Vice Premier Zhang Guoqing outlined achievements in SOE restructuring since 2020. "Reforms have significantly enhanced enterprise vitality and operational efficiency," Zhang stated, noting improved crisis response capabilities during recent global economic challenges.
The meeting reviewed a 2024 report on non-financial state assets and conducted a joint inquiry into reform implementation. Lawmakers pressed officials on measures to strengthen oversight systems and strategic sector alignment – particularly in technology and infrastructure development.
Zhang emphasized future priorities including:
Optimizing state capital distribution in key industries
Improving modern enterprise governance structures
Enhancing innovation capabilities through R&D investment
Strengthening risk management frameworks
NPC Standing Committee Vice Chairman Xiao Jie called for concrete implementation plans, requiring the State Council to report progress to legislators within statutory timelines. The discussions occur as China seeks to balance market-oriented reforms with maintaining strategic economic control.
Analysts suggest the renewed focus could impact:
Foreign investment opportunities in mixed-ownership ventures
