Hong Kong Bauhinia Magazine:

The outline of the 14th Five-Year Plan was put forward to accelerate the improvement of the distribution and structural adjustment of the state-owned sector. What are the SASAC's overall considerations and objectives for the reform and development of state-owned assets and SOEs during the 14th Five-Year Plan period? Thank you.

Peng Huagang:

Thank you for your question. That is what we have just completed. Implementing the guiding principles of the Fifth Plenary Session of the 19th CPC Central Committee, the SASAC has conducted a comprehensive and in-depth study and is working on its outline of the 14th five-year plan. This year, we have mainly implemented the guiding principles as well as the opinions on the distribution and structural adjustment in the state-owned sector in the new era, putting forward the three-level planning system of the state-owned assets. We have formulated the outline of the 14th five-year plan for central SOEs and the plan for improving the distribution and structural adjustment of the state-owned assets system. Details of both projects have already been released. They aim to lead the state-owned assets and SOEs systems to better uphold and strengthen the leadership of the Party; focus on duties and main business; vigorously improve the distribution and structural adjustment; intensify the reform of state-owned assets and SOEs; develop new strengths in industrial clusters, regional coordination, complementary advantages, new growth drivers, flexible mechanisms, and integrated development; further develop state-owned assets and SOEs; accelerate building world-class enterprises; and give beneficial play to the strategic importance of the state-owned sector.

For the state-owned assets system, we will vigorously improve the distribution and structural adjustment of state-owned assets so that by the end of the 14th Five-Year Plan period, they will play a more prominent role in strategic security, leading the industry, people's livelihoods, and with public services. They will also provide stronger guidance and guarantees for developing proactive and strategic industries and securing industrial chains and supply chains, and significantly increase the competitiveness of SOEs. These efforts will involve a few aspects.

First, we will make great efforts to improve their industrial layout and channel them into important sectors and key fields. Second, we will make great efforts to improve their regional distribution to serve major regional strategies, coordinated regional development strategies, and functional zoning strategies. Third, we will make great efforts to promote their structural adjustment, facilitate the development of different economic sectors side by side, strengthen efficient cooperation among all sides, deepen strategic reorganization and professional integration, and handle market-oriented development and law-based governance.

For central SOEs, we will make great efforts to start a new journey of high-quality development and accelerate the construction of world-class enterprises. By the end of the 14th Five-Year Plan period, we will strive to build a group of leading enterprises in various industries; a group of leading enterprises in scientific and technological innovation; a group of champion companies in specialized, refined, featured, and high-tech products and services; and a group of backbone enterprises for basic guarantees. At present, both plans have been issued for implementation. Next, we will strengthen their implementation to ensure that the tasks laid out in them are in place. Thank you.