As the main carriers of the national economy, state-owned enterprises are an important material and political foundation of socialism with Chinese characteristics, and an important pillar and strength for the Party to govern and rejuvenate the country. To promote high-quality development in the new stage of development, we must deepen the reform of State-Owned enterprises, make them stronger, better and bigger, and promote their high-quality development.

Uphold the Party's leadership over state-owned enterprises. Leadership by the COMMUNIST Party of China is the most essential feature of socialism with Chinese characteristics and the greatest strength of the socialist system with Chinese characteristics. Adhering to the leadership of the Party and strengthening the party's construction are the glorious tradition, the "root" and "soul" of state-owned enterprises, and the unique advantages of state-owned enterprises in China. To enterprise party organization embedded into the corporate governance structure, clear and carry out the party organization in the legal position in the corporate governance structure, scientific design enterprise party organizations play a role of leadership and political core mechanism, make state-owned enterprises of the party and the state's most trusted depend on power, an important force to resolutely implement the central party committee decision-making deployed.

We will actively yet prudently advance mixed-ownership reform. State-owned capital, collective capital, private capital cross-shareholding of mixed ownership economy and mutual fusion, is the important form of socialist basic economic system in our country, is advantageous to the state-owned capital amplification function, value, improve competitiveness, is conducive to all kinds of ownership capital complement each other, mutual promotion and common development. On the basis of carrying out the pilot reform of mixed ownership in key areas, we should promote the reform of mixed ownership and develop the mixed ownership economy in a standardized and orderly manner in accordance with the requirements of improving governance, strengthening incentives, highlighting main businesses and improving efficiency. We will support qualified mixed ownership enterprises in establishing medium - and long-term incentive mechanisms, such as key employee shareholding, equity incentive in listed companies, equity incentive in science and technology enterprises and dividend incentive; We will explore ways to establish governance mechanisms and regulatory systems that are different from those of wholly state-owned and wholly-owned companies.

We will accelerate the establishment of a modern enterprise system. Establishing a modern enterprise system is an important part of improving corporate governance, which is conducive to giving play to the enthusiasm, initiative and creativity of various talents in state-owned enterprises and stimulating the vitality of various elements. To establish a modern enterprise system, it is necessary to design the incentive mechanism reasonably and give consideration to both social and economic benefits. It is necessary to improve the market-oriented compensation distribution mechanism, flexibly use various forms of incentive measures, and balance the responsibilities and rights of state-owned enterprises to form a fair and orderly competition environment.

We will improve the system for overseeing state assets. We will give full play to the supervision and management role of state-owned asset management departments, improve the coordinated and efficient supervision mechanism, improve the investment operation and management system, and make scientific use of capital market tools to raise the efficiency of state capital allocation and operation. We will adopt differentiated evaluation systems and supervision methods for soes with different control rights, different industries and different sizes, and strive to maintain and increase the value of state-owned assets, significantly enhance the competitiveness of the state-owned economy, and significantly enlarge the function of state-owned capital.

Actively serve the national strategy. Serving national strategy actively is the important mission of state-owned enterprises. We should accelerate the optimization of the distribution and restructuring of the state-owned economy, and concentrate on important industries that are vital to national security and the lifeblood of the economy; on important industries that provide public services, build emergency response capacity, and provide public welfare that are vital to the country's economy and the people's livelihood; and on emerging industries of forward-looking strategic importance. We will give full play to the leading role of State-Owned enterprises in economic development, actively explore new modes of cooperation between state-owned enterprises and private enterprises, increase the leverage of state capital, improve the efficiency of allocating factors of production flow, and accelerate the implementation of the national strategy. In the market economy, economic growth will inevitably fluctuate. State-owned enterprises should fully fulfill their economic, political and social responsibilities, and effectively use their own advantages in scale, industry and market to play a mainstay role in stabilizing the economy. For example, during the economic downturn, we will expand investment, promote mergers and acquisitions, and increase employment to ease downward pressure on the economy, stabilize the job market, boost the development of private enterprises and micro, small and medium-sized enterprises, and promote steady and sound economic development.

Source: State-owned Assets And Administration Commission of The State Council