Xi Jinping Urges Central SOEs to Boost Reform, Innovation and Support China’s Modernization

Beijing: Chinese President Xi Jinping has called on state-owned enterprises (SOEs) directly administered by the central government to more effectively serve the overall priorities of the Party and the nation, while making stronger contributions to China’s modernization goals. The message was delivered through an official instruction conveyed at a two-day meeting of heads of central SOEs held on Monday and Tuesday.

Xi, who also serves as general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, stressed that central SOEs play a crucial role in the national economy. He said these enterprises must focus on promoting high-quality economic and social development, improving people’s livelihoods, deepening reforms, and strengthening efforts to prevent and defuse risks.

China Central SOEs Reform Key to High-Quality Development

Highlighting their strategic importance, Xi urged central SOEs to continuously enhance their core competitiveness and work toward becoming world-class enterprises. He emphasized that these firms should remain firmly rooted in the real economy while striving for breakthroughs in key and core technologies that are vital to national development and industrial security.

Xi also underscored the need to uphold and strengthen the Party’s overall leadership over central SOEs. He called for improved institutional frameworks, tighter supervision, and firm action to combat corruption, noting that strong governance is essential to ensure sustainable and healthy growth of state-owned enterprises.

Central SOEs Told to Strengthen Governance and Risk Control

The Chinese leader further said that reform efforts must be advanced in a coordinated and steady manner, with a clear focus on long-term resilience. By improving internal management systems and reinforcing oversight mechanisms, central SOEs can better safeguard against financial, operational, and strategic risks while supporting broader national objectives.

He added that disciplined governance and accountability would help central SOEs play a more reliable role in stabilizing the economy during periods of uncertainty.

China Central SOEs Reform to Support Infrastructure and New Industries

Chinese Premier Li Qiang, who is also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting and delivered a speech outlining priorities for the next planning cycle. He said that during the 15th Five-Year Plan period (2026–2030), central SOEs must provide strong support for advancing major infrastructure projects.

Li called on these enterprises to accelerate the upgrading of traditional infrastructure by integrating digital and intelligent technologies. He also urged them to actively develop emerging and future industries aligned with their core functions, while ensuring the stability of energy and resource supplies critical to national security.

Leaders Call for Deeper Reforms and Strategic Alignment

The premier emphasized the importance of strengthening applied basic research and playing a proactive role in serving major national strategies. He added that reforms of state capital and SOEs must be further deepened, encouraging enterprise leaders to fulfill their responsibilities with a more proactive and enterprising mindset.

The meeting was chaired by Chinese Vice Premier Zhang Guoqing, with State Councilor Wu Zhenglong also in attendance, reflecting the high-level attention given to the future direction of central SOEs.