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China: Chinese President Xi urges central SOEs to contribute more to Chinese modernization

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Storyline Chinese President Xi urges central SOEs to contribute more to Chinese modernization [Voice_over] Chinese President Xi Jinping has called on state-owned enterprises directly administered by the central government to contribute more to Chinese modernization. President Xi said central SOEs have actively served national strategies, and played a pivotal role in the country's economy. Xi stressed that such enterprises should better support China's high-quality economic and social development and people's livelihoods, and fulfill their social responsibilities. He urged enterprises to enhance their core competitiveness and work to build world-class enterprises. He called on them to stay rooted in the real economy, achieve breakthroughs in key and core technologies, and promote the integration of technological and industrial innovations. President Xi said they should further deepen reforms, and effectively prevent and defuse risks. Xi also emphasized the importance of upholding and strengthening the party's leadership over central SOEs, tightening supervision, and resolutely combating corruption. President Xi's remarks were delivered at a meeting attended by heads of those enterprises. Chinese Premier Li Qiang attended the meeting and gave a speech. Li said during the upcoming 15th Five-Year Plan period, central SOEs must provide strong support for major infrastructure projects, and accelerate the digital transformation of traditional infrastructure. He urged enterprises to develop emerging and future industries in line with their core functions and businesses, while ensuring stable energy and resource supplies. Li called on them to strengthen applied basic research and play an active role in serving major national strategies. The Chinese premier also emphasized the need to further deepen reforms, adding that enterprise heads should fulfill their duties with a more proactive and enterprising spirit. [Restrictions: No access Chinese mainland]

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