China is stepping up its game! 🎮 On Friday, Lin Qingmiao, director of the Bureau of Enterprise Reform at the State-owned Assets Supervision and Administration Commission (SASAC), announced plans to enhance cooperation between state-owned enterprises (SOEs) and private enterprises. This move aims to promote coordinated development and is a key task in deepening and upgrading SOE reforms. 🚀
In recent years, SASAC has been boosting collaboration in four major areas: capital, industrial chains, supply chains, and tech innovation. 🧪 By promoting synergy between SOEs and private businesses, China is looking to create a win-win situation for all! 🙌
Since the launch of the reform upgrade, central SOEs have actively engaged in equity cooperation with private enterprises and other social capital, with investments exceeding a whopping 390 billion yuan ($55.7 billion)! 💰 That's some serious cash flow fueling the economy.
But wait, there's more! Central SOEs have also fostered industrial chain partnerships with over 5,700 upstream and downstream enterprises. This means more opportunities and growth for businesses across the board. 📈
Guess what? Among the more than 2 million enterprises in the supply chains driven by central SOEs, a staggering 96% are private small and medium-sized enterprises (SMEs). That's a huge boost for local entrepreneurs and startups! 🌱
Looking ahead, Lin highlighted that China will encourage SOEs to expand the open sharing of innovation resources. By leveraging the strengths of SOEs and private companies, China aims to achieve common development and a brighter future together. ✨
Reference(s):
China to improve cooperation between SOEs and private enterprises
cgtn.com
