Chinese vice premier stresses innovation for centrally-administered SOEs

Vice Premier Zhang Dejiang said here Monday that China's centrally-administered state-owned enterprises (SOEs) should resort more to technology innovation to improve their competitiveness.

Zhang made the remarks at a conference attended by senior executives of the centrally-administered SOEs.

Zhang stressed that the centrally-administered SOEs were the core contributors to the country's economy and they played an essential role in helping achieve the country's social and economic growth goals next year.

He urged the SOEs to boost the ability of independent innovation in science and technology and take a step forward from "made in China" to "created in China."

He praised the companies for their efforts in coping with the global financial crisis and their sense of social responsibility.

Zhang urged the companies to expand businesses overseas, secure benefits of their employees, and strengthen safe and environment-friendly production.

In the first 11 months, China's 131 centrally-administered SOEs saw a 3.4 percent year-on-year growth in operation revenues to 11.1 trillion yuan and in profits to 710.9 billion yuan, according to figures released by the State Assets Supervision and Administration Commission (SASAC) at the conference.

Source: Xinhua