The basic economic system in which public ownership plays the dominant role and various forms of ownership develop together was formed in the great practice of reform and opening up led by the Party. It is a form of production relations that matches the development level of the productive forces in the primary stage of socialism in China, and an effective system that can mobilize the enthusiasm of the working people for production and innovation and creativity. The Third Plenary Session of the 20th CPC Central Committee proposed to "promote the complementary advantages of various forms of ownership and common development." At present, diverse ownership economies have formed close links in the industrial chain, value chain, capital chain, innovation chain, etc., and together constitute China's booming industrial ecology and strong international competitive advantages. "Promoting the complementary advantages of various ownership economies and common development" is a further requirement for constantly improving the economic system and mechanism, and adhering to and implementing the "two unwavering".

We will enhance the influence, driving force and support of state-owned enterprises in economic development in the new era

State-owned enterprises are an important force in promoting modernization and protecting the common interests of the people in our country, and an important material and political foundation for the development of the cause of the Party and state. It has always been an unwavering goal of the Party Central Committee to strengthen, improve and expand state-owned enterprises. Since the founding of New China, state-owned enterprises have always been an important support for China's economic and social development. The development of the national economy is inseparable from the strong support of state-owned enterprises in basic industries and basic industries such as steel, energy, chemical industry and electric power. The development of the non-public economy is also inseparable from the strong support of state-owned enterprises in market, talent and technology. Since the reform and opening up, state-owned enterprises have achieved substantial growth in output value, profits and tax revenue through the structural adjustment of "grasping the large and releasing the small" and the establishment of a modern property right structure and a sound governance system.

At present, the world is undergoing profound changes unseen in a century, anti-globalization trends are on the rise, unilateralism and protectionism are on the rise, and it is all the more necessary for China to give full play to the role of state-owned enterprises in achieving high-quality economic development. First, we will enhance the leading and driving force of state-owned enterprises in economic development. Further clarify the functional positioning of different types of state-owned enterprises, clarify the key areas and directions of state-owned capital investment, and promote the concentration of state-owned capital in important industries and key areas related to national security and the lifeblood of the national economy, public services, emergency response capabilities, and public welfare areas related to the national economy and people's livelihood, and concentrate on forward-looking strategic emerging industries. State-owned enterprises should give full play to their advantages in capital, technology and talents, better fulfill the national strategic mission, and actively build an industrial ecology for the common development of enterprises of all forms of ownership. Second, we will strengthen the support of state-owned enterprises for economic development. State-owned enterprises actively strengthen basic research, accelerate the solution of the "stuck neck" problem in the industrial chain, dredge the industrial chain supply chain card points, blocked points, can significantly improve the ability of China's economy to cope with risks and challenges, and ensure stable economic development.

We will stimulate the potential of private enterprises in promoting innovation, boosting exports and creating jobs

Since the reform and opening up, relying on China's huge market size and abundant labor resources, private enterprises have achieved rapid development by playing the characteristics of being close to the local market, making quick decisions, and being flexible. The scientific literacy, international vision and management level of some outstanding private entrepreneurs have been greatly improved, and the private enterprises led by them play an indispensable role in cultivating all kinds of high-quality talents, developing new quality productivity and promoting high-quality development.

Since the new era, vigorously supporting the development of private enterprises and encouraging private enterprises to enter a broader stage is the unswerving policy direction of our Party and government. The Third Plenary Session of the 20th CPC Central Committee put forward a package of promotion policies: to ensure that all forms of ownership have equal access to production factors in accordance with the law, fair participation in market competition, and equal legal protection, formulate a law on promoting the private economy, and support capable private enterprises to take the lead in undertaking major national technological research tasks. General Secretary Xi Jinping has long been concerned about and supported the development of private enterprises, and held two symposiums on private enterprises on November 1, 2018 and February 17, 2025, respectively, to convey the clear attitude of the Party and the government to the majority of private entrepreneurs, and urge private enterprises to support the policy to be effective. Private entrepreneurs are encouraged to "firmly be builders of socialism with Chinese characteristics and promoters of Chinese-style modernization." At present, China's private enterprises are booming, and the number of enterprises has increased from 10.857 million in 2012 to 56.707 million by the end of January 2025. Private enterprises have played an indispensable role in stabilizing growth, promoting innovation, increasing employment, improving people's livelihood, and expanding exports. Taking innovation as an example, in recent years, a number of internationally competitive private enterprises have emerged in the fields of electronic information, intelligent vehicles, high-end equipment manufacturing, etc., which have played an important innovative leading role in improving industrial ecology, enhancing the international competitiveness of local industries, and enhancing the strength of national industries.

At present, in the face of the highly uncertain international trade environment under the profound changes in the world in a century, and in the face of various new production and living scenarios spawned by emerging technological progress, we can meet people's expectations for a better life. It is necessary to further release the potential and vitality of private enterprises in exploring the application of new technologies, developing small-scale and sporadic markets, enriching employment forms, and increasing the number of jobs.

Enhance the leading ability of foreign-funded enterprises in disseminating cutting-edge management knowledge and developing international markets

Since the reform and opening up, China's stable political environment, abundant labor resources and huge potential market have attracted foreign enterprises, and China's accession to the World Trade Organization has further accelerated the flow of foreign investment into China. In the process of operating in China, foreign-funded enterprises promote the diffusion of knowledge in technology research and development, production management and international market development, and accelerate the formation of local related industrial chains and the growth of local talents. Through cooperation with foreign enterprises in China, some local enterprises continue to improve their management level and product quality, and gradually form the ability to participate in international competition. Some local management talents working in foreign-funded enterprises have formed a systematic understanding of modern production management and accumulated the basic knowledge and skills of modern enterprise operation management.

At present, the competitiveness of Chinese local enterprises has been greatly improved, but foreign-funded enterprises are still indispensable players in China's economic development, helping to improve the integrity and competitiveness of China's industrial chain. For Chinese local enterprises, in the cooperation or competition with foreign enterprises, by learning from the world's latest technology research and development and international market development concepts, understanding the trend and trend of world industrial development, they can accelerate the improvement of strategic development level and international competitiveness. In addition, the development of foreign-funded enterprises in China also helps more foreigners and foreign enterprises to have a deeper understanding of the development achievements of contemporary China, and further enhance understanding and cooperation. In the new era, the new journey, to promote a high level of opening up is the unswerving policy direction of China, and it is still necessary to introduce more foreign enterprises that are highly complementary and technologically leading.

In short, by further deepening the reform in a comprehensive way, encouraging enterprises of various ownership types to display their strengths and dislocation competition will help to enhance the stability, security and international competitiveness of China's industrial chain; It will help open up a new industrial track and win the initiative and advantage in a new round of industrial competition. It will help foster more world-class enterprises and local talents with international vision and professional skills, stimulate market vitality, and accelerate the building of a high-level socialist market economy.

Source: SASAC of The State Council