(Economic Watch) How will China's state-owned enterprises be repositioned in the new era?

Beijing, 3 Mar (ZXS) -- After many rounds of reform and development, China's state-owned enterprises have gradually become dynamic market entities under the market economic system. In the new journey of Chinese-style modernization, what new missions and responsibilities do state-owned enterprises undertake? How can state-owned enterprises be repositioned?

The second state-owned economic research summit was held in Beijing on the 21st. Zhang Yuzhuo, Secretary of the Party Committee and Director of the State-owned Assets Supervision and Administration Commission of the State Council, pointed out that efforts should be made to build modern new state-owned enterprises that meet the requirements of Chinese-style modernization; Efforts should be made to promote state-owned enterprises to shoulder new missions and responsibilities in China's modernization; The achievements of promoting Chinese-style modernization benefit all the people.

In the construction of a modern industrial system and a new development pattern, Weng Jaming, member of the Party Committee and deputy director of the State-owned Assets Supervision and Administration Commission of the State Council and chairman of the State-owned Economic Research Think Tank of the Chinese Academy of Social Sciences, pointed out that the reform and development of state-owned enterprises has five priorities:

First, focus on industrial businesses, vigorously promote strategic restructuring and professional integration in a market-oriented manner, increase the layout of strategic emerging industries such as a new generation of information technology, artificial intelligence, integrated circuits, and industrial mother machines, and accelerate the realization of independent control in important fields and key nodes; The second is to strengthen the main role of scientific and technological innovation, actively create a source of original technology, promote the "science and technology reform demonstration action" to enrich and expand, and improve the ability of basic research and applied basic research; The third is to put the maintenance of economic security, industrial security and national security in a more prominent position, enhance the supporting role of important energy resources, and increase investment in the construction of new infrastructure such as communication networks, new technologies, and computing power; Fourth, accelerate the improvement of modern corporate governance of state-owned enterprises with Chinese characteristics; Fifth, greater efforts should be made to promote the common development of enterprises of all types of ownership.

How to understand this new direction?

Gao Peiyong, vice president of the Chinese Academy of Social Sciences and chairman of the state-owned economic research think tank of the Chinese Academy of Social Sciences, said that in the new era, state-owned enterprises have been given new missions and new tasks. State-owned enterprises shoulder important missions in building a new system of high-level socialist market economy, promoting high-level scientific and technological self-reliance and self-improvement, as well as coordinating development and security, and giving play to the advantages of the new national system.

Huang Qunhui, director of the Economic Research Institute of the Chinese Academy of Social Sciences and director of the Management Committee of the State-owned Economic Research Think Tank of the Chinese Academy of Social Sciences, also said that first of all, we should emphasize the mission of state-owned enterprises in building Chinese-style modernization and further optimize the layout structure of state-owned capital, which is the logical basis for the reform and development of state-owned enterprises.

He pointed out that state-owned enterprises should play a leading and supporting role in major strategies such as high-level self-reliance, upgrading the modernization level of the industrial chain, promoting common prosperity, and smoothing the economic cycle. Among them, Huang Qunhui particularly emphasized that in terms of common and basic technological innovation, increasing R&D investment is the most core mission of state-owned enterprises, and state-owned enterprises should become the supply source of common and basic technological innovation.

Secondly, Huang Qunhui believes that we should adhere to the reform direction of the socialist market economy and continue to improve the modern enterprise system with Chinese characteristics. At the same time, improve the institutional environment for fair competition and actively promote the coordinated development of state-owned enterprises and private enterprises.

Bai Chongen, dean of the School of Economics and Management at Tsinghua University and vice chairman of the All-China Federation of Industry and Commerce, used the "directly operated stores" and "franchised stores" of chain enterprises to compare state-owned enterprises and private enterprises. He believes that the direct economic benefits of "franchised stores" (private enterprises) are usually better than those of "directly operated stores" (state-owned enterprises), but in addition to the direct contribution of "directly operated stores" in terms of economic benefits, they also bring overall contributions in terms of word of mouth, brand, product innovation and talent training. For example, the contribution of state-owned enterprises in innovation will lead other enterprises to be more modern and operate better, which is the embodiment of the overall contribution.

In addition, state-owned enterprises will make such overall contributions to green transformation and ensuring development security. The direction of future reform and development is to make this role of state-owned enterprises better. For example, in the green transformation, power grid enterprises play a very key role. Energy electrification requires the grid to have a more flexible absorption capacity, which also means huge investment, so the corresponding is whether the corresponding incentives and sufficient compensation can be given to better play the role of the grid.

Bai Chongen also mentioned that we can start with the term of office of the head of state-owned enterprises and the establishment of a fault-tolerant mechanism for innovation to better play the role of state-owned enterprises. (End)