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state-owned enterprises are an important material and political foundation of socialism with chinese characteristics, an important pillar and support for the party's governance and national development, and play an irreplaceable and important role in the comprehensive process of promoting china's modernization.

01

current situation and foundation

since the new era, my country's state-owned enterprises have made positive progress in scale, quality, efficiency, innovation, layout, reform, etc. the pace of high-quality development has continued to accelerate, and the strategic support role of the state-owned economy to the national economy has been fully demonstrated, mainly reflected in: state-owned enterprises have achieved remarkable results in scale, quality, efficiency, etc., and the foundation for high-quality development of enterprises has become more solid; state-owned enterprises have achieved major breakthroughs in scientific and technological innovation, and the momentum for high-quality development of enterprises has been accelerated; state-owned enterprises have accelerated the adjustment and optimization of their layout and structure, and the space for high-quality development of enterprises has become broader; state-owned enterprises have made important progress in deepening reforms, and the vitality of high-quality development of enterprises has become more abundant; state-owned enterprises have demonstrated their responsibility in implementing national strategies and serving the people's livelihood, and the results of high-quality development of enterprises have become more inclusive.

02

development situation

first, the global economic environment is complex and changeable, international trade protectionism is on the rise, and the multilateral trading system is impacted by unilateralism, which has brought uncertainty and risks to companies from all countries in conducting international trade and overseas investment. my country's state-owned enterprises must actively adapt to changes in the international economic and trade cooperation pattern.

from a global perspective, since the 2008 international financial crisis, especially under the impact of the covid-19 pandemic, protectionism, unilateralism, and hegemonism have been fierce, globalization has encountered a strong countercurrent, and the global macroeconomic governance framework formed since world war ii is facing huge challenges. the trend of multipolarization continues to deepen, the factors of international chaos and disorder have increased significantly, uncertainty and risks continue to be high, and cooperation between major powers has declined significantly and competition has increased significantly. under the great changes in the world that have not been seen in a century, china, as an emerging power, is facing increasingly severe competitive pressure due to the suppression of established powers. my country's state-owned enterprises face huge uncertainties and risks in conducting international trade and overseas investment. they must actively adapt to new changes in the international economic and trade environment, strengthen integration and interaction with the international market, strengthen risk management, and improve their ability to respond to emergencies.

second, a new round of scientific and technological revolution and industrial transformation is reshaping the global economic structure and industrial landscape. new industries, new business forms and new models are constantly emerging, providing new opportunities and challenges for the development of my country's state-owned enterprises.

since the second half of the 20th century, a new round of scientific and technological revolution and industrial transformation with the integration of informatization and industrialization as its basic characteristics has been developing. after the international financial crisis, the "revolution" process began to accelerate. under the impact of the covid-19 pandemic, the application scenarios have been continuously expanded and deepened, giving rise to a large number of new industries, new formats and new business models. from the perspective of the technological and economic paradigm, this round of scientific and technological revolution and industrial transformation has the following characteristics: the breakthrough application of digital technology and intelligent technology is the leading factor driving the transformation of social productivity; information (data) is the core input factor to improve the efficiency of social and economic operation; the trend of industrial intelligence, integration and greening is reconstructing the modern industrial system. my country's economic modernization process is facing major opportunities for "overtaking on the curve" due to the scientific and technological revolution and industrial innovation, and it is also facing the serious threat of a relative "regress" in the modernization process if it cannot integrate its industrialization process with the information revolution. in this case, state-owned enterprises need to actively embrace new technologies and promote industrial innovation and upgrading.

third, my country's economic development has entered a new normal stage, with the economy shifting from high-speed growth to high-quality development. the economic development model, industrial structure, and driving mechanism are undergoing profound changes. my country's state-owned enterprises need to actively adapt to these changes, accelerate transformation and upgrading, and improve development quality and efficiency.

under the new normal, my country's economy has shifted from a stage of high-speed growth to a stage of high-quality development, and the economic growth model has undergone profound changes: the market competition landscape has become more complex and changeable, and the market environment and operating risks have become increasingly complex; the industrial structure has been continuously optimized and upgraded, emerging industries have developed rapidly, and traditional industries are facing pressure to transform and upgrade; innovation-driven development has become an important feature of economic development, and green development has become an important trend.

as the pillar of the national economy, state-owned enterprises need to actively adapt to this change, shift from scale expansion to quality improvement, and focus on improving economic benefits and innovation capabilities: establish market awareness, actively participate in market competition, continuously improve product and service quality, strengthen brand building, enhance corporate image and brand value, and enhance market influence and competitiveness; establish and improve risk prevention and control systems, strengthen risk identification and assessment, improve risk prevention and response capabilities, strictly abide by national laws, regulations and regulatory requirements, and ensure compliance operations. actively adjust the industrial structure, increase investment in emerging industries, and promote technological transformation and upgrading of traditional industries; increase r&d investment, establish and improve the innovation system, encourage technological innovation and model innovation, continuously improve product added value, and enhance market competitiveness. respond to the national call for ecological civilization construction, promote green production methods and green lifestyles, reduce energy consumption and pollution emissions through technological transformation and energy-saving and emission reduction measures, and achieve a win-win situation of economic and environmental benefits.

fourth, the third plenary session of the 20th cpc central committee further clarified the overall goals, fundamental requirements and key tasks of my country's state-owned enterprises in the process of promoting chinese-style modernization.

the "decision of the central committee of the communist party of china on further comprehensively deepening reforms and promoting chinese-style modernization" reviewed and adopted at the third plenary session of the 20th central committee incorporated the deepening of the reform of state-owned assets and state-owned enterprises into the overall strategic plan of comprehensively deepening reforms, and made concentrated arrangements in a special section, covering different levels such as state-owned economy, state-owned capital, state-owned enterprises, and state-owned assets, involving different aspects such as regulatory coordination, layout optimization, innovation incentives, and assessment and evaluation. it is consistent with general secretary xi jinping's important expositions on the reform, development, and party building of state-owned enterprises, and clearly marked the direction, pace, and focus of the deepening reform of state-owned assets and state-owned enterprises on the new journey. it further emphasized the overall goal of promoting the strengthening, optimization, and expansion of state-owned capital and state-owned enterprises, further put forward the fundamental requirements of strengthening core functions and enhancing core competitiveness, and further clarified the key tasks of deepening the reform of state-owned assets and state-owned enterprises, including: deepening the promotion of state-owned assets and state-owned enterprises will place further deepening of reform in a more prominent position, continue to strengthen, optimize, and expand state-owned capital and state-owned enterprises, enhance the core functions of enterprises, enhance core competitiveness, and make new and greater contributions of state-owned assets and state-owned enterprises to the great cause of building a strong country and national rejuvenation.

03

challenges

overall level of state-owned enterprises

first, the management and supervision system and mechanism of state-owned assets and state-owned enterprises are not yet perfect. there are many shortcomings in the strategic coordination, policy coordination, information sharing, and supervision effectiveness of government departments in the management of state-owned enterprises. overstepping, absence, and misplacement coexist, affecting the understanding and implementation of policies by state-owned enterprises.

the lack of unity and coordination in the strategic planning and goal setting of state-owned enterprise management by government departments has led to deviations and conflicts in the process of policy implementation by state-owned enterprises, which may affect the speed and ability of state-owned enterprises to respond to market changes and reduce their market competitiveness. government departments sometimes lack sufficient communication and coordination when formulating and implementing policies related to state-owned enterprises, resulting in overlaps, contradictions or gaps between policies, which may increase the operating costs of state-owned enterprises and reduce the effectiveness of policy implementation. the information sharing mechanism between government departments and state-owned enterprises is not sound, information flow is not smooth, and information asymmetry and information islands are serious, which affects the scientificity and accuracy of state-owned enterprise decision-making. in addition, there are also phenomena of overstepping, absence and dislocation in the government's management and supervision of state-owned enterprises, which are manifested in excessive intervention of government departments in the daily business activities of state-owned enterprises, affecting their exercise of independent management rights; inadequate supervision and service of government departments, and failure to effectively perform their duties; deviations in the role positioning of government departments, such as confusing economic management functions with state-owned asset supervision functions, etc.

second, state-owned enterprises are facing increasingly severe resource and environmental constraints, and the original extensive development model based on traditional productivity conditions is becoming increasingly unsustainable.

the continuous growth of the global economy and the continuous increase in population have led to a sharp increase in the demand for natural resources, causing many resources to become increasingly scarce. as an important subject of resource use, state-owned enterprises are facing greater pressure to obtain resources. at the same time, with the improvement of people's environmental awareness and the improvement of environmental protection policies and regulations, all sectors of society have higher and higher requirements for environmental protection. as an important force in economic development, state-owned enterprises have attracted much attention for the impact of their production and operation activities on the environment. they need to assume more environmental protection responsibilities, increase environmental protection investment, and reduce pollutant emissions, which has increased their operating costs to a certain extent.

the traditional development model of state-owned enterprises mainly relies on a large amount of resource input and energy consumption, accompanied by serious environmental pollution. this extensive development model is no longer able to adapt to the current situation of increasing resource and environmental constraints. state-owned enterprises must actively promote green and low-carbon development, increase investment in energy conservation and emission reduction, and clean energy utilization; strengthen resource recycling, actively explore new models and new ways of resource recycling, and achieve maximum resource utilization and minimum waste emissions through the development of circular economy and promotion of circular economy technology; optimize the industrial structure, increase investment in emerging industries and high-tech industries, and gradually eliminate high-energy consumption and high-pollution traditional industrial projects; establish and improve the environmental protection system, clarify environmental protection responsibilities and obligations, promote the environmental information disclosure system, and accept social supervision and public opinion supervision.

third, the situation in which state-owned enterprises are restricted by people in some key core technology fields and links has not been fundamentally reversed, and their forward-looking layout for some future technologies and future industries that may have disruptive impacts is relatively lagging behind.

at present, state-owned enterprises are still highly dependent on imported technologies or products in certain high-tech fields, such as chip manufacturing, high-end equipment, and precision instruments, which puts them in a passive position in the industrial chain. this technological dependence not only increases the operating costs of state-owned enterprises, but also limits their independent innovation capabilities and market competitiveness. although state-owned enterprises have made significant progress in scientific and technological innovation in recent years, compared with the international advanced level, they still have insufficient innovation capabilities, especially in original innovation, basic research, and cutting-edge technology exploration. they need to increase investment. at the same time, facing the rapidly changing market and technological environment, state-owned enterprises are relatively inadequate in foresight for some future technologies and industries, and lag behind market changes and foreign competitors in the layout of some new technologies and new industries. state-owned enterprises must focus on breaking through the bottlenecks and card points that restrict the development of new quality productivity, continuously strengthen the source of innovation, accelerate the promotion of industrial innovation based on scientific and technological innovation, transform and upgrade traditional industries, cultivate and strengthen emerging industries, lay out and build future industries, open up new fields and new tracks, create new momentum and new advantages, actively build an independent, controllable, safe and efficient industrial chain and supply chain, promote the optimization and upgrading of the industrial chain and supply chain, and provide strong support for the construction of a modern industrial system and high-quality economic development.

at the individual level of state-owned enterprises

faced with the requirements of better fulfilling their functional missions and playing an important role in the national economy, some state-owned enterprises still have problems such as low asset returns, insufficient innovation capabilities, and weak value creation capabilities. they must further improve operational efficiency, enhance innovation vitality and endogenous driving force.

at present, some state-owned enterprises still have problems such as low asset returns, insufficient innovation capabilities, and weak value creation capabilities, which do not match the requirements of building a high-level socialist market economic system. for example, the return on net assets of some state-owned enterprises is lower than the market average, the capital utilization efficiency is not high, and the capital value-added function has not been fully utilized; the proportion of r&d investment in some state-owned enterprises is low, and progress in the development of new technologies and new products is slow. there are obstacles in converting scientific research results into actual productivity, and it is difficult to effectively convert innovative results into economic benefits; some state-owned enterprises have duplicate construction and overcapacity in resource allocation, and low resource utilization efficiency, which affects the value creation ability of enterprises. state-owned enterprises must focus on enhancing vitality and improving efficiency, focus on key points, make up for shortcomings, strengthen weaknesses, continuously improve modern enterprise governance capabilities and core competitiveness, accelerate the forging of modern new state-owned enterprises with new development methods, new corporate governance, new operating mechanisms, and new layout structures, take measures to continuously improve operational efficiency and management level, increase innovation investment, strengthen brand building, optimize resource allocation, actively participate in market competition, and promote high-quality development.

state-owned enterprise entrepreneur level

first, the decision-making environment faced by state-owned enterprise entrepreneurs is becoming increasingly complex and decision-making goals are becoming more diversified, which greatly increases the complexity and difficulty of making management decisions.

on the one hand, china's modernization drive is accompanied by rapid changes in the policy environment, including industrial policies, environmental policies, and financial policies. national policy support not only provides more policy opportunities for entrepreneurs of state-owned enterprises, but also brings them potential policy risks. entrepreneurs of state-owned enterprises need to have superb leadership and strategic vision, be able to accurately grasp national policies and market trends, formulate development strategies and plans that are in line with the actual situation of the enterprise, and adjust business strategies in a timely manner to ensure compliance with policy requirements and avoid business risks caused by policy adjustments.

on the other hand, with the adjustment of national development strategies and changes in social needs, state-owned enterprises have been given multiple functions in economic, social, and political aspects, and may be required to assume more new functions at any time, such as innovation-driven, green development, and international competition. these functions are often intertwined, increasing the complexity and difficulty of decision-making for entrepreneurs of state-owned enterprises. faced with the need to balance multiple goals, entrepreneurs of state-owned enterprises need to have keen insight and judgment, always keep a clear head, continuously strengthen their own learning and team building, constantly learn new knowledge and new skills, and improve their management and decision-making capabilities.

second, the institutional system faced by state-owned enterprise entrepreneurs is still not perfect. they urgently need to demonstrate their pioneering spirit, strengthen institutional innovation, and make up for the "shortcomings" and "weak links" in institutional construction as soon as possible.

since the 18th cpc national congress, state-owned enterprises have made great progress in institutional construction and have initially established a relatively standardized modern enterprise system. however, in the face of the development needs of china's modernization construction, there are still many weak links and loopholes in the institutional construction of state-owned enterprises, such as: the lack of an incentive-compatible mechanism to encourage state-owned enterprises to better fulfill their social responsibilities; the institutional arrangements for state-owned enterprises to carry out original innovation are not yet sound, etc.

entrepreneurs of state-owned enterprises play an important role in promoting the reform of state-owned enterprises. they must be institutional entrepreneurs - they should not only pay attention to products and services in the production and operation process, but also pay attention to the long-term development and system construction of state-owned enterprises, be able to propose and implement new system frameworks, or innovate existing systems, and promote the development and reform of state-owned enterprises through institutional innovation; they not only need to implement national policies and guidelines to ensure that state-owned enterprises operate under the premise of legality and compliance, but also need to have a strong sense of system, innovation and reform, be able to keenly perceive the needs and trends of institutional change, actively innovate and make breakthroughs at the institutional level within the scope permitted by policies, and through institutional innovation, continuously optimize the resource allocation of state-owned enterprises, improve operational efficiency, and enhance market competitiveness and vitality.

(chen guang state grid energy research institute co., ltd.)

qiguan guozi is the official wechat public account of qidian observer newspaper. qidian observer is an all-media platform guided by the state-owned assets supervision and administration commission of the state council and hosted by the china enterprise reform and development research association. it is recognized by the state-owned assets supervision and administration commission of the state council as a "state-owned enterprise's own public opinion platform" and is committed to reporting on the reform and development of chinese enterprises from a professional, market-oriented and international perspective.

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