Only competitive enterprises can achieve stable and sustainable development, only innovation-driven enterprises can gain long-term competitive advantages, and only value-sharing enterprises can realize the organic combination of economic benefits and social benefits.

General Secretary Xi Jinping stressed that "high-quality development is the theme of China's economic and social development during the 14th Five-year Plan and beyond." Market players are the power carriers of the economy, and the high-quality development of enterprises is the micro basis for the high-quality development of China's economy. To achieve high-quality development, enterprises should not only adapt gradually, but also strive to take the lead.

Competitiveness is the external characterization of high quality development of enterprises. Only having good financial performance does not mean that an enterprise must have strong competitiveness. Only by gaining sustained advantages in both domestic and international market competition can it be called a competitive enterprise. It should be noted that strong market competitiveness not only includes a favorable position in the product market, but also includes a greater advantage in the capital and other factor markets, which can raise funds, purchase raw materials and attract high-tech talents with lower costs. Despite the increasingly fierce competition in the global market, many Chinese enterprises have shown relatively strong competitiveness in both domestic and international markets, and Chinese enterprises are still marching towards the direction of high-quality development.

Innovation drive is the internal realization path of high quality development of enterprises. In the context of global competition, innovation is the first driving force for high-quality development of enterprises. Only through innovation can enterprises have core competitiveness and advance to the upper part of the value chain. In terms of the domestic environment, China's growth has been driven by innovation instead of factors and investment. For enterprises, resource and environmental constraints are becoming tighter and demographic dividend is diminishing at the margin. In order to maintain their advantages in market competition, they should no longer rely on the old way of relying on primary factors of production, but should rely on innovation to obtain excess returns and high added value. In the international context, anti-globalization, unilateralism and protectionism are surging, and foreign monopolies and blockades of some core technologies are posing challenges to China's important industries and key sectors. Only by strengthening innovation consciousness and fostering independent research and development ability as soon as possible, can enterprises have international competitiveness and anti-risk ability to cope with global environmental changes, so as to achieve high-quality development.

Value sharing is the ultimate goal of high quality development of enterprises. Enterprises should not only protect the interests of shareholders, but also safeguard the interests of all stakeholders. Value sharing means that enterprises bear more social responsibilities in the process of achieving high-quality development, which not only creates economic benefits, but also creates social benefits, reflecting the positive externality of enterprise value creation.

In the fierce market competition, only competitive enterprises can be stable and zhiyuan; In the long run of sustainable development, only innovation-driven enterprises can gain long-term competitive advantages; In the overall pattern of economic and social development, only enterprises that share value can realize the organic combination of economic benefits and social benefits. A growing number of enterprises are taking firm steps toward high-quality development, which will strengthen the internal vitality of the Chinese economy and inject strong impetus into the Chinese economy's progress while maintaining stability.

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