Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Economy improving, with SOEs poised to lead !

Economy improving, with SOEs poised to lead

Time:2024-05-21 15:12:08 source:Worldly Weaves news portal

China's economy is improving steadily, with notable growth in some key sectors during the first two months of this year, Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council, said on the sidelines of the two sessions on Tuesday.

"The momentum of China's economic recovery has been further consolidated, and we have confidence in the performance of State-owned assets and enterprises this year," Zhang said.

To advance the high-quality development of SOEs, he pledged efforts to enhance their core competitiveness and eliminate institutional barriers that hinder their innovative and high-quality development.

Citing the annual Government Work Report, Zhang highlighted the importance of fostering new quality productive forces and stressed the need to boost innovation and increase investment in research and development.

Official data showed that SOEs spent 1.07 trillion yuan ($148.6 billion) on research and development last year, accounting for nearly a third of China's R&D expenditure.

Zhang also stressed the importance of fostering an innovative ecosystem conducive to fostering new quality productive forces, which entails abandoning outdated practices and a renewed emphasis on long-term investment in talent and technology.

He highlighted the pivotal role of cultivating talent in fostering new quality productive forces, saying that SOEs, with a technology talent pool of over 1.2 million people and a burgeoning community of innovative entrepreneurs, are poised to lead the charge in advancing China's economic agenda.

By fostering a culture of scientific and entrepreneurial spirit, these enterprises will be encouraged to tackle the most formidable challenges and propel the nation toward a prosperous future, he said.

Related information
  • Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
  • Ancient tea embraces new flavor
  • Judge orders psych evaluation for Illinois man charged in 4 killings
  • Cubs rookie Michael Busch homers in 5th consecutive game to equal club record
  • Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
  • Former Beijing gas factory transformed into leisure space
  • Ancient rock carvings wear 'digital smart armor' in SW China
  • Voters to decide primary runoffs in Alabama's new 2nd Congressional District
Recommended content
  • Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
  • Holiday tourism contributes to China's rural revitalization
  • Asian Winter Games Harbin 2025 releases promo video
  • CMG to host major art exhibition in Paris featuring over 200 works
  • Amtrak train hits pickup truck in upstate New York, 3 dead including child
  • Celebrity birthdays for the week of April 21