Chinese vice premier calls for deepened SOE reform, support for "little giant" firms

TIANJIN, April 2 (Xinhua) -- Chinese Vice Premier Zhang Guoqing has called for continuous efforts to deepen the reform of state-owned enterprises (SOEs) and vigorously promote the development of "little giant" firms.

Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an investigation and research tour in north China's Tianjin Municipality on Monday and Tuesday.

He urged central SOEs to improve their mechanisms for scientific and technological innovation, strengthen work to build up their technological capacities, strive to strengthen their main businesses, actively develop emerging and future industries, and constantly optimize the structure and allocation efficiency of state-owned capital.

Efforts should be made to guide small and medium-sized enterprises to accelerate their breakthroughs in key technologies and improve their core competitiveness continuously, while supporting their promotion of digital transformation.

He also stressed the importance of promoting the joint development of large, small and medium-sized enterprises, as well as the need to promote mutually beneficial cooperation between these enterprises.