{"id":209652,"date":"2025-12-01T13:26:12","date_gmt":"2025-12-01T13:26:12","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/209652\/"},"modified":"2025-12-01T13:26:12","modified_gmt":"2025-12-01T13:26:12","slug":"beijing-aims-to-harness-state-private-sectors-to-build-world-class-firms","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/209652\/","title":{"rendered":"Beijing aims to harness state, private sectors to build \u2018world-class firms\u2019"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">China\u2019s state-asset watchdog has urged the country\u2019s state-owned enterprises (SOEs) to act as an anchor for strategic industries, while also calling for a predictable, level playing field for private firms \u2013 a combination it said was essential for building world-class businesses.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Zhang Yuzhuo, chairman of China\u2019s State-owned Assets Supervision and Administration Commission (SASAC), outlined Beijing\u2019s latest push to strengthen both the state and private sectors in an article published on Monday in People\u2019s Daily, the official newspaper of the ruling Communist Party.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cWe need to guide state capital to play a more active role in upgrading traditional industries, fostering cluster-based growth in strategic emerging sectors, and nurturing the industries of the future,\u201d he said.<\/p>\n<p>The article also said SOEs must become engines of innovation and cornerstones of modern industrial supply chains, with Zhang calling on firms to step up applied basic research and <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3328810\/china-must-overcome-tech-choke-points-peoples-daily-warns-amid-us-tensions?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">accelerate breakthroughs in core technologies<\/a>.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">China\u2019s centrally administered state-owned enterprises invested 1.1 trillion yuan (US$154.6 billion) on research and development last year, with their R&amp;D spending rising by 6.5 per cent per year on average since 2021, according to official data.<\/p>\n<p>The article also <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3328026\/china-planning-5-year-honeymoon-its-private-firms-will-they-feel-love?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">pledged support for private companies<\/a>. Capable private firms should be trusted to participate in major national research projects and encouraged to expand their presence in emerging and future industries, Zhang said.<\/p>\n","protected":false},"excerpt":{"rendered":"China\u2019s state-asset watchdog has urged the country\u2019s state-owned enterprises (SOEs) to act as an anchor for strategic industries,&hellip;\n","protected":false},"author":2,"featured_media":209653,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[1793,79,381,114820,2498,179,18,6151,98536,19,17,12305,98533,54752,64290,21765,114822,114823,114821,114819],"class_list":{"0":"post-209652","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-beijing","9":"tag-business","10":"tag-china","11":"tag-chinas-state-owned-assets-supervision-and-administration-commission-of-the-state-council","12":"tag-domestic-manufacturing","13":"tag-economy","14":"tag-eire","15":"tag-entrepreneurs","16":"tag-guangdong-society-of-reform","17":"tag-ie","18":"tag-ireland","19":"tag-national-security","20":"tag-peng-peng","21":"tag-private-companies","22":"tag-private-firms","23":"tag-sasac","24":"tag-soes","25":"tag-state-owned-companies","26":"tag-strategic-industries","27":"tag-zhang-yuzhuo"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115644542825887657","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/209652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=209652"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/209652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/209653"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=209652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=209652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=209652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}