Senior official: Total assets of China's centrally administered SOEs saw robust growth

The total assets of China's centrally administered State-Owned Enterprises saw robust growth between 2021 and 2025, increasing from under 70 trillion yuan (about $10.15 trillion) to over 90 trillion yuan, said Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

The total profits have increased by 56.2% compared to the previous five-year period, he added.

Zhang gave an interview at the Ministers' Corridor after the opening meeting of the fourth session of the 14th National People's Congress at the Great Hall of the People in Beijing on Thursday.

China aims to deepen reforms with the purpose of strengthening key functions and improve core competitiveness and strengthen and expand state-owned enterprises (SOE) and state-owned capital during the 15th Five-Year Plan period, he said.

Three breakthroughs need to be made.

First, concentrating state-owned capital in the following industries: important industries related to national security and the lifeline of the national economy, important industries related to the national economy and people's livelihood as well as forward-looking strategic emerging industries.

Second, China needs to embrace institutionalized reforms, so that state-owned enterprises, particularly central enterprises, can become more revitalized.

Third, there should also be breakthroughs in management models and the effectiveness of oversight.