Reform and Innovation Drive High-Quality Development of State-Owned Enterprises

State-owned enterprises are an important material and political foundation of socialism with Chinese characteristics. General Secretary Xi Jinping has pointed out, “We must uphold and improve the basic socialist economic system, further deepen the reform of state-owned assets and state-owned enterprises, and enhance the competitiveness of state-owned enterprises.” The “Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform and Promoting Chinese-Path Modernization” (hereinafter referred to as the “Decision”) adopted at the Third Plenary Session of the 20th Central Committee of the Communist Party of China made important arrangements for deepening the reform of state-owned assets and state-owned enterprises, emphasizing “making state-owned capital and state-owned enterprises stronger, better, and larger, enhancing their core functions, and improving their core competitiveness.” Advancing reform and innovation in depth is an inevitable requirement for enabling state-owned enterprises to better fulfill their functional missions and serve Chinese-path modernization.

国有企业是中国特色社会主义的重要物质基础和政治基础。习近平总书记指出，“要坚持和完善社会主义基本经济制度，进一步深化国资国企改革，提高国企竞争力”。党的二十届三中全会通过的《中共中央关于进一步全面深化改革、推进中国式现代化的决定》（以下简称《决定》）对深化国资国企改革作出重要部署，强调“推动国有资本和国有企业做强做优做大，增强核心功能，提升核心竞争力”。纵深推进改革创新，是推动国企更好履行功能使命、服务中国式现代化的必然要求。

Most state-owned enterprises are distributed in important industries and key fields related to national security and the lifeline of the national economy. They are an important force for realizing national strategic intentions, responding to changes in the external environment, and safeguarding the common interests of the people, and they play a significant role in absorbing employment, providing public services, and leading industrial upgrading. Deepening reform and innovation and promoting the high-quality development of state-owned enterprises are conducive to maintaining the resilience and security of China’s industrial and supply chains, solving the difficulties and problems currently faced in China’s economic and social development, ensuring the realization of various development goals, and also enabling China to better respond to the current complex international trade and investment environment, enhancing China’s voice in the global governance system.

国企大多分布在关系国家安全、国民经济命脉的重要行业和关键领域，是实现国家战略意图、应对外部环境变化、保障人民共同利益的重要力量，并在吸纳就业、提供公共服务、引领产业升级等方面发挥着重要作用。深化改革创新，推动国企高质量发展，既有利于维护我国产业链供应链韧性和安全，解决当前我国经济社会发展中面临的困难和问题，保障各项发展目标的实现，也能使我国更好应对当前复杂的国际贸易投资环境，提升我国在全球治理体系中的话语权。

Since the 18th National Congress of the Communist Party of China, the reform of state-owned enterprises has been deeply advanced, achieving significant results in optimizing layout and structure, enhancing innovation capabilities, and improving vitality and efficiency. However, some state-owned enterprises still face problems such as imperfect modern enterprise systems, suboptimal asset structures, and the need to deepen transformation, upgrading, and innovative development. It is necessary to adhere to a problem-oriented approach and coordinate efforts from multiple dimensions to promote the high-quality development of state-owned enterprises.

党的十八大以来，国企改革深入推进，在优化布局结构、增强创新能力、提升活力效率等方面取得明显成效，但一些国企仍存在现代企业制度不够完善、资产结构不优、转型升级和创新发展有待深化等问题，需坚持问题导向，从多维度协同发力，促进国企高质量发展。

First, improve the modern enterprise system to help enhance the management level and market competitiveness of state-owned enterprises.

其一，完善现代企业制度，助力国企管理水平和市场竞争力提升。

The modern enterprise system with Chinese characteristics is an important institutional foundation for accelerating the construction of world-class enterprises. Promoting innovation in the governance structure and organizational form of state-owned enterprises and removing institutional and mechanistic obstacles can guide enterprises to improve the efficiency of resource factor utilization and management and operation levels. With the deepening of reform, the governance structure of state-owned enterprises has been further optimized, but some deep-seated problems still exist, such as unclear boundaries of rights and responsibilities of governance entities, mismatched incentive and constraint mechanisms, and imperfect supervision and management mechanisms.

中国特色现代企业制度是加快建设世界一流企业的重要制度基础。推动国企治理结构和组织形态创新，破解体制机制障碍，能够引导企业提高资源要素利用效率和经营管理水平。随着改革的不断深入，国企的治理结构得到进一步优化，但仍存在一些深层次问题，例如治理主体权责边界不清、激励约束机制不匹配、监督管理机制不健全等。

To solve the above problems, it is necessary to follow the requirements of the modern enterprise system with Chinese characteristics, combine the responsibilities and missions of state-owned enterprises, improve governance mechanisms, clarify the boundaries of rights and responsibilities of relevant governance entities, and build a scientific, standardized, and efficient governance structure. Strengthen the leadership of Party building, integrate Party leadership into all aspects of corporate governance, promote the organic unity of Party organization setup and enterprise organizational structure operation, and achieve coordinated operation, scientific decision-making, and synergy among the Party committee, board of directors, and management. Accelerate the construction of flexible and efficient market-oriented operation mechanisms, further compress management levels, establish rapid decision-making mechanisms, and explore the implementation of flat management, platform-based operation, and other models in emerging industry fields, continuously improving market response speed and flexibility. Improve the personnel selection and appointment system, optimize talent incentive and fault-tolerant and exemption mechanisms, deepen the reform of the wage determination mechanism, build a more reasonable and compliant corporate compensation structure, standardize the specific circumstances of fault-tolerant and exemption or mitigation, and stimulate the innovation vitality and work motivation of talent. Improve supervision and management mechanisms, deeply promote the assessment of “one policy per industry, one policy per enterprise,” continuously optimize the assessment system, strengthen the coordination and integration of investor supervision and various types of supervision, orderly establish intelligent and penetrating supervision systems, and effectively enhance supervision efficiency.

解决上述问题，要按照中国特色现代企业制度的要求，结合国企责任使命，健全治理机制，厘清相关治理主体的权责边界，构建科学规范高效的治理结构。强化党建引领，把党的领导融入公司治理的各环节，推进党组织设置与企业组织架构运行有机统一，实现党委、董事会、经理层协调运转、科学决策、形成合力。加快构建灵活高效的市场化运营机制，进一步压缩管理层级，建立快速决策机制，在新兴产业领域探索实施扁平化管理、平台化运作等模式，不断提高市场反应速度和灵活性。完善选人用人制度，优化人才激励与容错免责机制，深化工资决定机制改革，构建更加合理合规的企业薪酬结构，规范容错免责、减责具体情形，激发人才创新活力和干事动力。完善监督管理机制，深入推进“一业一策、一企一策”考核，不断优化考核体系，加强出资人监督和各类监督贯通协同，有序建立智能化穿透式监管系统，切实提升监管效能。

Second, focus on main responsibilities and main businesses, and promote the optimization of the layout and structural adjustment of the state-owned economy.

其二，聚焦主责主业，推进国有经济布局优化和结构调整。

The planning of the development direction of state-owned enterprises needs to be strategic. The “Decision” proposes “promoting the concentration of state-owned capital in important industries and key fields related to national security and the lifeline of the national economy, in public services, emergency response capabilities, and public welfare fields related to the national economy and people’s livelihood, and in forward-looking strategic emerging industries.” Based on main businesses and industries, promoting the optimization of the layout and structural adjustment of the state-owned economy helps to coordinate the allocation of state-owned capital on a larger scale, at a deeper level, and in a broader scope, helps to strengthen the core competitiveness of state-owned enterprises, improve the allocation efficiency of state-owned capital, enhance the overall function of the state-owned economy, and strongly support the construction of a modern industrial system.

国企发展方向的谋划需具备战略性。《决定》提出，“推动国有资本向关系国家安全、国民经济命脉的重要行业和关键领域集中，向关系国计民生的公共服务、应急能力、公益性领域等集中，向前瞻性战略性新兴产业集中”。立足主业实业推进国有经济布局优化和结构调整，有助于在更大范围、更深层次、更广领域统筹配置国有资本，有助于强化国企核心竞争力、提高国有资本配置效率、增强国有经济整体功能、有力支撑现代化产业体系建设。

To promote the “three concentrations” of state-owned capital, it is necessary to comprehensively use fiscal, monetary, industrial, and other policy tools to guide the total amount, structure, and direction of state-owned enterprise investment. Based on the type, asset status, and development positioning of state-owned enterprises, clarify main responsibilities and main businesses, optimize investment management systems, prevent development tendencies such as blind diversification, rushing in all at once, and duplicate construction, and promote state-owned enterprises to increase effective supply in public services in livelihood fields such as emergency support, disaster prevention and mitigation, medical and health care, and healthy aging. Deeply implement the industrial renewal action and the future industry launch action, vigorously promote the strategic restructuring and professional integration of state-owned enterprises, continuously make efforts in original innovation, key core technologies, and other fields, and accelerate the upgrading of the industrial structure and the modernization of the industrial system. Focus on new drivers such as the digital economy, promote the investment and layout of state-owned capital in strategic emerging industries and other fields, continuously open up new growth space in the high-end, intelligent, and green development of industries, and continuously enhance the value creation ability of state-owned enterprises and the ability to preserve and increase the value of state-owned assets.

推进国有资本“三个集中”，需综合运用财政、货币、产业等政策工具，对国企投资总量、结构和方向进行引导。依据国企的类型、资产状况和发展定位，明晰主责主业，优化投资管理制度，防止盲目多元、一拥而上、重复建设等发展倾向，推进国企增加在应急保障、防灾减灾、医疗卫生、健康养老等民生领域公共服务的有效供给。深入实施产业焕新行动和未来产业启航行动，大力推进国企的战略性重组和专业化整合，持续在原始创新、关键核心技术等领域发力，加速产业结构跃迁升级和产业体系现代化。聚焦数字经济等新动能，推动国有资本在战略性新兴产业等领域的投入布局，在产业高端化、智能化、绿色化发展中不断打开新的增长空间，持续提升国企价值创造能力和国有资产保值增值能力。

Third, strengthen the main body position of scientific and technological innovation, and contribute to building a strong country in science and technology.

其三，强化科技创新主体地位，为建设科技强国贡献力量。

State-owned enterprises are the main force of scientific and technological innovation. State-owned enterprises, especially central enterprises, undertake a large number of national major scientific research tasks, possess rich resources such as talent, technology, and facilities, can play a pivotal role in integrating innovation resources, and are crucial for improving the overall efficiency of the national innovation system. Many state-owned enterprises are also leading scientific and technological enterprises, occupying key positions in the scientific and technological innovation chain. Giving full play to their role as “chain leaders” can effectively enhance the resilience and security level of China’s industrial and supply chains, lead industrial upgrading, and climb to the mid-to-high end of the global value chain. In addition, further leveraging the resource advantages and capital market influence of state-owned enterprises can promote the concentration of financial resources in the field of scientific and technological innovation. Therefore, strengthening the main body position of state-owned enterprises in scientific and technological innovation is of great significance for optimizing China’s scientific and technological innovation system, enhancing scientific and technological innovation capabilities, and building a strong country in science and technology.

国企是科技创新的主力军。国企特别是央企承担着大量国家重大科研攻关任务，拥有丰富的人才、技术、设施等资源，能够在创新资源整合中发挥枢纽作用，对于提升国家创新体系的整体效能至关重要。不少国企也是科技领军企业，在科技创新链条中位居关键环节，充分发挥其“链主”作用，能够有效提升我国产业链供应链韧性和安全水平，引领产业升级并向全球价值链中高端攀升。此外，进一步发挥国企的资源优势和资本市场影响力，能够推动金融资源向科技创新领域集聚。因而，强化国企的科技创新主体地位，对于优化我国科技创新体系、提升科技创新能力、建设科技强国具有重要意义。

To further stimulate the scientific and technological innovation potential of state-owned enterprises, it is necessary to improve institutional mechanisms, optimize the assessment mechanism for scientific and technological innovation, build an efficient system for the transformation and application of scientific and technological achievements, improve the normalized mechanism for matching industry-university-research achievements, promote efficient innovation coordination and high-level innovation cooperation, and improve the efficiency of R&D input and output. Highlight strategic orientation, focus on long-term value, strengthen investment in basic, urgent, frontier, and disruptive technology research, accelerate the R&D and application innovation of key core technologies, improve the level of domestic substitution in key fields, and better serve the national innovation-driven development strategy. Give full play to the important role of leading scientific and technological enterprises, strive to build national strategic scientific and technological forces, actively participate in national major scientific and technological projects, as well as the construction of major scientific and technological infrastructure and scientific and technological innovation platforms, rely on leading enterprises to form collaborative innovation platforms, and unite various enterprises to carry out scientific and technological research. Make good use of various government investment funds, and improve the level of professional and market-oriented operation. Promote state-owned capital investment to become a more responsible long-term capital and patient capital, and guide social capital to participate in the transformation of scientific and technological achievements. Increase investment in strategic emerging industries and future industries such as new-generation information technology, artificial intelligence, new energy, new materials, biotechnology, and green environmental protection, and continuously shape new drivers and new advantages for development. Support extensive collaboration between state-owned enterprises and private enterprises, through the formation of industrial alliances, implementation of industrial co-construction, and other means, promote the integrated development of upstream, midstream, and downstream industrial chains, large, medium, and small enterprises, improve the circulation efficiency of innovation factors such as data and technology, and cultivate a good innovation ecosystem.

进一步激发国企科技创新潜力，需完善体制机制，优化科技创新考核机制，构建科技成果高效转化应用体系，健全常态化产学研成果对接机制，推进高效率创新协同、高水平创新合作，提高研发投入产出效率。突出战略导向、注重长期价值，加强在基础性、紧迫性、前沿性、颠覆性技术研究的投入力度，加快推进关键核心技术研发与应用创新，提升关键领域国产化替代水平，更好服务国家创新驱动发展战略。发挥科技领军企业的重要作用，着力打造国家战略科技力量，积极参与国家重大科技项目以及重大科技基础设施、科技创新平台建设，依托领军企业组建协同创新平台，联合各类企业开展科技攻关。用好各类政府投资基金，提升专业化市场化运作水平。推动国资出资成为更有担当的长期资本、耐心资本，引导社会资本参与科技创新成果转化。加大在新一代信息技术、人工智能、新能源、新材料、生物技术、绿色环保等战略性新兴产业和未来产业的投资力度，不断塑造发展新动能新优势。支持国企与民企开展广泛协作，通过组建产业联盟、实施产业共建等方式，推动产业链上中下游、大中小企业融通发展，提升数据、技术等创新要素的流通效率，培育良好创新生态。

Online editor: Tongxin

网络编辑：同心