China will focus on three aspects to support centrally administered state-owned enterprises (SOEs) in developing emerging and future industries, said Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council, in Beijing on Thursday.
Zhang briefed the press on the three aspects, namely leading, catching-up, and cultivation, after the opening meeting of the fourth session of the 14th National People's Congress (NPC).
"Our centrally administered SOEs have taken the lead in new energy, aerospace, and new materials. For example, in the new energy field, foreign countries are troubled by a bottleneck -- the shortage of electricity, but it is not a worry in our country. We have sufficient electricity, particularly green power. Our photovoltaic and wind power generators represent 50 percent of the world's total, and half of the generators are operated by central SOEs. Next, we will work to build a sustained competitive edge in these fields on the international stage, so as to further strengthen our advantages globally," said Zhang.
"We are at the catching-up stage in some industries, such as new energy vehicles (NEVs). Our central SOEs have done a good job in the NEV sector. Over the recent three years, their output and revenue have doubled, and the market share of domestic brands has risen from 10 percent to 16.5 percent," he said.
"Some of our industries are still in the cultivation stage such as quantum information, nuclear fusion, low-altitude economy, and biotechnology. Our central SOEs are stepping up their efforts to cultivate these industries in this regard," said the official.
China to focus on three aspects to support central SOEs in emerging industries: official
