SASAC to Boost SOEs in Key Industries, Accelerate Pioneer Enterprise Cultivation

Published: Apr 1, 2025 08:57

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The State-owned Assets Supervision and Administration Commission of the State Council stated that it will promote state-owned enterprises to intensify their efforts in industries such as NEVs and integrated circuits, while encouraging the accelerated development of industries like biopharmaceuticals through mergers and acquisitions. They also emphasized the importance of forward-looking planning and the phased cultivation of future industries, and expressed the need to expedite the cultivation of the first batch of pioneering enterprises. Additionally, they plan to leverage major projects such as manned spaceflight and deep-sea and deep-earth exploration to strive for a commanding position in future development.

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