China plans to expedite optimization of layout, structure of state capital
Date
7/24/2024 4:21:15 AM
(MENAFN) China plans to expedite the optimization of the layout and structure of state capital and centrally-administered state-owned enterprises (SOEs), according to a statement from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. Zhang Yuzhuo, the commission's chairman, outlined these goals during a recent seminar for executives of centrally-administered SOEs held from Monday to Tuesday.
Zhang emphasized that the focus will be on redirecting state capital towards industries and sectors critical to national security and the economy, including public services, emergency response, and public welfare. Additionally, there will be a concerted effort to channel investments into forward-looking and strategic emerging industries. He noted that the optimal approach for high-quality development involves advancing state capital in certain areas while scaling back in others.
To achieve these objectives, Zhang called for improvements in the regulatory mechanisms governing the flow of state capital. This includes revitalizing existing assets, disposing of inefficient ones, and reallocating resources to core technological advancements and strategic industries. He stressed the need for a professional platform to facilitate state capital investment, restructuring, and circulation.
Further, Zhang advocated for enhanced management and governance of SOEs, including the establishment of a performance assessment system to evaluate how well SOEs fulfill their strategic missions. He also suggested revising the laws governing state capital in enterprises. The commission is committed to providing institutional support to foster innovation in new and emerging fields.
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