国企改革成绩单发布，央企重组仍是新一轮改革重点

Core Insights - The three-year action plan for deepening state-owned enterprise (SOE) reform has been largely completed, with significant achievements in areas such as structural layout, technological innovation, corporate governance, and regulatory mechanisms [1][2] Group 1: Reform Achievements - The latest round of SOE reform has shown fundamental changes in the overall landscape of state-owned enterprises, contributing significantly to economic and social development, although challenges remain in original innovation capabilities and safety support in key areas [3] - Central enterprises have established 97 original technology sources and led the construction of 23 innovation consortia, promoting collaborative research and development [3] - In the strategic emerging industries, central enterprises achieved revenue exceeding 11 trillion yuan from January to November 2025, with significant investments in biopharmaceuticals and low-altitude economy sectors [4] Group 2: Strategic Restructuring and Integration - The State-owned Assets Supervision and Administration Commission (SASAC) has promoted the restructuring and integration of state-owned enterprises to enhance efficiency and focus on core competencies, resulting in the formation of new central enterprises and significant asset consolidations [5] - Strategic restructuring efforts have involved 116 groups across various regions, enhancing the core competitiveness of enterprises [5] Group 3: Future Reform Directions - The "14th Five-Year Plan" and subsequent actions have transitioned SOE reform from institutional construction to efficiency enhancement, laying a foundation for deeper changes in the "15th Five-Year Plan" period [8] - Future reforms will focus on improving the modern enterprise system with an emphasis on integrating party leadership into corporate governance and enhancing the effectiveness of state asset supervision [9] - The ongoing restructuring of central enterprises, such as the merger between China Petroleum and Chemical Corporation and China Aviation Oil, is seen as a significant step towards optimizing the layout and responding to international competition and green transformation [10]