A factory belonging to the Inner Mongolia North Heavy Industries Group Corp. Photo: SASAC

China will implement a three-year action plan on reforming state-owned enterprises (SOEs), according to a national teleconference on Sunday.
Vice-Premier Liu He, also a member of the Political Bureau of the Communist Party Central Committee and head of the State Council leading group for SOE reform, attended and addressed the conference, which is presided over by State Councilor Wang Yang, deputy head of the group.

The SOEs should become market entities with core competitiveness and push forward the mixed-ownership reform in an active yet prudent manner, the conference said. They will play a larger role in leading innovation efforts as well as action to improve industrial and supply chains.
Meanwhile, the SOEs will act as a safeguard in terms of maintaining social development and improving people’s livelihoods, according to the conference.
The conference called on relevant departments to take responsibility for implementing the action plan and local authorities to seek innovative ways for the implementation.

Foreign trade

Vice-Premier Hu Chunhua underscored on Sunday the need to promote new industries and business patterns in foreign trade.
Hu, a member of the poliburo of the CPC Central Committee, made the remarks during his inspection of China’s eastern economic powerhouse Shanghai.
He stressed fostering new industries and business patterns to boost the steady development of foreign trade and contribute to the formation of a new development pattern with the domestic market as the mainstay, while allowing domestic and foreign markets to boost one another.
He called for more support in terms of taxation, financial services and foreign exchange for new industries and business patterns such as offshore trade, cross-border e-commerce and market purchase trade.
The digital economy is gradually becoming a major driving force to boost growth in China. The added value of China’s digital economy reached 35.8 trillion yuan (US$5.16 trillion) in 2019, accounting for 36.2% of GDP, according to a white paper released by the China Academy of Information and Communications Technology in July.

Animal husbandry

The State Council recently issued a circular to promote the high-quality development of animal husbandry and ensure the security of livestock and poultry products.
Concerned departments should expedite modern livestock breeding, animal epidemic prevention and product processing and circulation, and constantly step up the quality benefits and competitiveness of animal husbandry to meet demand for animal products. 

With epidemic prevention as the priority, the development of animal husbandry should stay market-driven, eco-friendly and policy-led, the circular said. The self-sufficiency rate of hog products, beef and mutton, and dairy products should stay at about 95%, 85% and 70%, respectively.

Cultural industry

China is seeing strong momentum in the development of its cultural industry both online and offline, amid the country’s resumption of work and production, according to the data released by the Ministry of Culture and Tourism.
As of September 24, a total of 1,162 theaters, accounting for over 53% of all theaters around the country, have reopened. More than 67% of internet cafes and over 94% of public song and dance venues have reopened across the country, said Li Jian, deputy head of the ministry’s market management bureau.

Over 5,100 entertainment venues have reopened to the public, amounting to nearly 33% of the total in China, said Li, adding that more than 90% of major chain entertainment establishments have resumed work.
According to the ministry, the internet culture industry witnessed revenue growth in the first half of 2020, with the revenues of online performance and internet music services up over 34% and 18% year-on-year, respectively.

Company news

Shenzhen-based Huawei Technologies on Sunday took part in the groundbreaking ceremony for a research and development center in Shanghai’s Qingpu district, as the technology giant takes one step further to deepen strategic cooperation with the metropolis.

Covering 1.6 million square meters, the center serves as a base for strengthening technology R&D, demonstration of applications and integrated innovation to expand Huawei’s business scope in the city and contribute to innovative development in information infrastructure and smart city building.

The stories were written by Xu Jiangshan and first published at ATimesCN.com. They were translated by Nadeem Xu.

Xu Yuenai

Xu Yuenai is a Beijing-based columnist specializing in international relations.