Chinese Vice Premier Zhang Guoqing, also a member of the Political Bureau of the Communist Party of China Central Committee, addresses a video conference on the reform and supervision of local state-owned enterprises (SOEs) on Nov. 12, 2024. [Photo/Xinhua]

Chinese Vice Premier Zhang Guoqing on Tuesday emphasized the need to deepen the reform of state-owned capital and enterprises, enhance the efficiency of supervision over state-owned capital, and promote the high-quality development of state-owned enterprises (SOEs).

Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when addressing a video conference on the reform and supervision of local SOEs.

He urged efforts to strengthen, optimize and expand state-owned capital and SOEs, and to improve the core competitiveness of SOEs.

Local governments should address the prominent issues constraining the high-quality development of SOEs, effectively prevent and resolve potential risks, reinforce the principal role enterprises play in innovation, and improve the SOE assessment and evaluation system, Zhang said.

He also urged local governments to promote SOEs to highlight their main businesses more effectively, focus on the real economy, and act as long-term, patient and strategic capital.

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