{"id":368722,"date":"2025-12-24T11:20:08","date_gmt":"2025-12-24T11:20:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/368722\/"},"modified":"2025-12-24T11:20:08","modified_gmt":"2025-12-24T11:20:08","slug":"chinas-xi-urges-state-giants-to-be-pillars-of-national-development","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/368722\/","title":{"rendered":"China\u2019s Xi urges state giants to be pillars of national development"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">President Xi Jinping has instructed central state-owned enterprises (SOEs) to serve as the bedrock of national development, urging them to drive industrial upgrading and secure critical technologies in the next phase of China\u2019s growth.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cCentral SOEs must fully recognise the responsibilities and missions they shoulder and better serve the overall priorities of the party and the state,\u201d he stressed in remarks conveyed to a meeting of central SOE leaders in Beijing on Monday and Tuesday, though he did not attend in person, Xinhua reported on Tuesday.<\/p>\n<p>The mandate comes as China navigates a pivotal transition: the final year of its 14th five-year plan and the <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3330637\/china-unveils-5-year-plans-support-private-sector-strengthening-financial-power?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">run-up to the 15th<\/a>, from 2026 to 2030, during which Beijing aims to advance its development amid geopolitical tensions and rising uncertainties, including from the ongoing trade war and tech race with the United States.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Xi ordered enterprises to focus on their core businesses, strengthen competitiveness and achieve breakthroughs in critical technologies.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">He also called for enhanced management capabilities to transform state firms into world-class entities and safeguard their development.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">SOEs and state capital, which Beijing has vowed to strengthen in the next five years, have been the backbone of China\u2019s socio-economic fabric, especially in strategic and livelihood-related sectors.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">By the end of 2024, China\u2019s central SOEs held 91 trillion yuan (US$13 trillion) in assets \u2013 an average annual increase of 7.3 per cent since 2021. Each year, they spend more than 15 trillion yuan on procurement, directly supporting around 2 million upstream and downstream businesses, according to September data from the State-owned Assets Supervision and Administration Commission (Sasac).<\/p>\n","protected":false},"excerpt":{"rendered":"President Xi Jinping has instructed central state-owned enterprises (SOEs) to serve as the bedrock of national development, urging&hellip;\n","protected":false},"author":2,"featured_media":368723,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,3686,99,199790,512,122729,164,199788,15596,36204,199789,199791,199792,160217,10649,1055,9731,26726],"class_list":{"0":"post-368722","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-beijing","11":"tag-business","12":"tag-central-soes","13":"tag-china","14":"tag-critical-technologies","15":"tag-economy","16":"tag-industrial-upgrading","17":"tag-li-qiang","18":"tag-national-security","19":"tag-sasac","20":"tag-soes","21":"tag-state-capital","22":"tag-tech-race","23":"tag-trade-war","24":"tag-united-states","25":"tag-xi-jinping","26":"tag-xinhua"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/368722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=368722"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/368722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/368723"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=368722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=368722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=368722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}