从两个“万亿元”看央企求新求变（读数·年度数据深一度）

Core Insights - The State-owned Assets Supervision and Administration Commission (SASAC) has reported that central enterprises' revenue from strategic emerging industries has exceeded 12 trillion yuan, marking an increase of over 10 percentage points compared to 2022. Additionally, these enterprises have invested 2.5 trillion yuan in strategic emerging industries, accounting for 41.8% of total investments, indicating a significant shift in their structural layout [1]. Group 1: Changes in Responsibilities and Missions - The responsibilities of central enterprises have evolved beyond merely preserving and increasing the value of state assets to playing a crucial role in building a modern industrial system and a new development pattern, emphasizing the importance of technological innovation and industrial control [2]. - Engaging in strategic emerging industries is no longer optional for central enterprises; it has become a necessity [2]. Group 2: Industry Development Changes - The current wave of technological revolution and industrial transformation is reshaping the global industrial landscape, making it essential for central enterprises to adapt to technological and market changes to remain competitive [3]. - For construction enterprises, the increasing urbanization in China necessitates a transition to emerging fields to achieve high-quality development [3]. - In the telecommunications sector, the rise of artificial intelligence is driving companies to evolve from basic infrastructure providers to builders of AI infrastructure, which is seen as a strategic move to secure future growth [3]. Group 3: Specific Company Strategies - Some enterprises are adopting new technologies to explore new markets, such as China FAW's transition to new energy vehicles, achieving a sales volume of 366,000 units in 2025, a year-on-year increase of 71.4% [3]. - Others are extending their industrial chains, like China Railway Construction Corporation, which is developing green building materials, and China National Building Material, which is investing over 60% of its capital into new materials, maintaining a leading position in carbon fiber production and successfully mass-producing ultra-thin photovoltaic glass [3]. - Some companies are expanding their technological chains, such as CRRC, which has leveraged high-speed rail technology to enter the wind energy sector, with this new segment accounting for 35% of total revenue [4]. Group 4: Future Directions - The SASAC is drafting a document to promote the cultivation of emerging pillar industries among central enterprises, aiming for a leap in development from major project investments to optimizing the overall layout of state-owned enterprises [4].