SOEs urged to deepen reform, further develop unified national market

China's top economic regulator — the National Development and Reform Commission — held a symposium with State-owned enterprises on Tuesday to deepen corporate reform, advance the construction of a unified national market, and bolster green development and energy security, to better align with the country's broader strategic national goals.

The meeting brought together executives from seven major State-owned enterprises — China COSCO Shipping Corp, China Coal Technology and Engineering Group, China Resource Recycling Group, China Logistics Group, China Shulian Logistics Information Co, Air China Cargo and China Shenhua Coal to Liquid and Chemical Co. During the session, the corporate leaders briefed the commission on their current production, operations and reform progress, while also sharing the practical challenges they face and offering targeted policy suggestions.

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NDRC Chairman Zheng Shanjie emphasized that as this year marks the beginning of the 15th Five-Year Plan (2026-30), it is imperative to implement the central authorities' arrangements on further deepening State-owned assets and enterprise reform.

Zheng urged a goal and problem-oriented approach to optimize the layout and structural adjustment of the State-owned economy. He called for robust efforts to enhance the functions of SOEs in technological innovation, industrial control and security support, thereby stimulating their internal driving forces and vitality.

Furthermore, Zheng highlighted the need for SOEs to actively serve the unified national market by maintaining foundational market systems and helping build modern circulation networks. He also stressed implementing the "dual carbon" strategy for green transition, ensuring energy security through clean coal utilization, and setting an example in supporting the development of private small and micro businesses. This, he noted, will foster complementary growth and mutual benefit across all types of ownership, thereby injecting fresh momentum into the broader economy.

In response, the participating enterprises pledged to resolutely implement national plans and continuously deepen reforms to inject new momentum into their development.

They are committed to taking the lead in integrating into the unified national market, accelerating the construction of modern circulation networks and effectively reducing logistics costs across society to boost overall economic efficiency.

Aligning with the country's carbon peak and neutrality goals, the companies also vowed to strengthen resource recycling, advance the clean and low-carbon utilization of coal, promote the high-quality development of the coal chemical industry, and ensure the secure supply of vital energy resources to support sustainable growth.

Experts said that deepening SOE reform is no longer merely a requirement for improving the market economy system, but a core issue in building national strategic capacity amid fierce global competition in frontier fields like artificial intelligence and intensifying technological advancements.

Shu Wenqi, deputy director of the China Institute for Urban Development, said the symposium sent a clear signal that reform must drive State capital to concentrate on forward-looking and strategic emerging industries.

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Key sectors such as AI, advanced manufacturing and the integration of energy and digital technologies are crucial for enhancing SOEs' status as primary drivers of technological innovation and their capacity for industrial control. These capabilities are deemed essential for safeguarding the country's economic resilience in an increasingly complex global landscape, Shu said.

By optimizing assessment and incentive mechanisms, strengthening research and development investment, and building open and collaborative innovation consortia, institutional advantages can be transformed into practical effectiveness for technological breakthroughs and industrial upgrades, Shu said, adding that only by taking the lead in securing the commanding heights of new technologies like AI can State capital truly empower development, serve the unified national market and consolidate the strategic foundation of national competitiveness.

Contact the writers at renqi@chinadaily.com.cn