Core Viewpoint - The restructuring of China Petroleum & Chemical Corporation (Sinopec) and China Aviation Oil Group is a continuation of strategic restructuring in state-owned enterprises (SOEs) aimed at optimizing the layout and structure of state-owned economy, driven by national strategy [1] Group 1: Economic Security - The restructuring aims to ensure the safe operation of the national economy, especially in the context of increasing external complexities and uncertainties [2] - The merger will enhance the security of China's oil energy supply chain, as Sinopec is the world's largest refining company and the largest aviation fuel producer in China, while China Aviation Oil is the largest aviation fuel service provider in Asia [2] Group 2: Asset Allocation Efficiency - The restructuring focuses on improving the efficiency of state-owned asset allocation, addressing the need for better operational efficiency in SOEs, which have historically been seen as stabilizers of the economy [3] - The total assets of central enterprises under the State-owned Assets Supervision and Administration Commission (SASAC) are projected to reach 90 trillion yuan by 2025, highlighting the necessity for enhanced asset allocation efficiency [3] Group 3: World-Class Enterprises - The goal of cultivating world-class enterprises has been emphasized in national strategies, with specific characteristics such as product excellence, brand prominence, innovation leadership, and modern governance [4] - The merger of Sinopec and China Aviation Oil is expected to create a benchmark for world-class enterprises in the petrochemical sector, enhancing resource allocation, technological leadership, and industry influence [4] Group 4: Technological and Industrial Revolution - The restructuring is also a response to the new technological and industrial revolution, focusing on integrating into strategic emerging industries and increasing investment in high-tech sectors [5] - State-owned enterprises are encouraged to leverage their advantages in data and electricity supply to support the rapid development of industries like artificial intelligence and quantum technology [5]

为中国式现代化建设贡献更大力量 ——习近平总书记重要指示激励中央企业砥砺前行、奋发有为 习近平总书记近日对中央企业工作作出重要指示，对中央企业提出了明确要求和殷切希望。习近平总书 记强调："新征程上，中央企业要充分认识肩负的职责使命，更好服务党和国家工作大局，服务经济社 会高质量发展，服务保障和改善民生，勇担社会责任，为中国式现代化建设贡献更大力量。" 习近平总书记的重要指示为推动中央企业高质量发展提供了根本遵循，为做好中央企业工作进一步指明 了方向。大家表示要深入学习领会，抓好贯彻落实。 切实增强核心功能、提升核心竞争力 习近平总书记强调："要聚焦主责主业，持续优化国有经济布局，切实增强核心功能、提升核心竞争 力。" "习近平总书记的重要指示为新征程上推动中央企业高质量发展指明了前进方向。"国务院国资委规划发 展局局长戴希表示，国务院国资委将高质量编制落实中央企业"十五五"规划，从更大范围、更深层次、 更广领域统筹优化国有经济布局，切实增强核心功能、提升核心竞争力。 中国南方电网有限责任公司党组书记、董事长孟振平表示，深入学习贯彻习近平总书记重要指示精神， 南方电网坚定全面履行经济责任、政治责任、社会责任， ...

党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》 （以下简称《建议》），对未来五年我国发展作出顶层设计和战略擘画。 国资央企怎样落实好《建议》提出的"加强原始创新和关键核心技术攻关""巩固壮大实体经济根基""深 化国资国企改革"等关键任务？记者采访了国务院国资委党委书记、主任张玉卓。 四方面着力强化国资央企自主创新、原始创新 问：《建议》提出加快高水平科技自立自强。"十五五"期间，国资央企在全面增强自主创新能力、抢占 科技发展制高点方面，将有哪些重要举措？ 答：中央企业是科技创新的国家队，是国家战略科技力量的重要组成部分。近年来，国资央企把科技创 新作为"头号任务"，充分发挥新型举国体制优势，研发投入连续三年破万亿元，集中攻克了工业母机、 工业软件、基础材料等一批"卡脖子"关键核心技术，打造了嫦娥六号、"奋斗者"号等一批举世瞩目 的"大国重器"。 面向"十五五"，我们将聚焦解决影响国家发展安全和长远利益的重大科技问题，大力强化自主创新、原 始创新，为实现高水平科技自立自强、建设科技强国提供坚实支撑。 一是着力增加高质量的科技供给。国资央企将积极承担国家科技重大任务，努力 ...

党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》 （以下简称《建议》），对未来五年我国发展作出顶层设计和战略擘画。 国资央企怎样落实好《建议》提出的"加强原始创新和关键核心技术攻关""巩固壮大实体经济根基""深 化国资国企改革"等关键任务？记者采访了国务院国资委党委书记、主任张玉卓。 四方面着力强化国资央企自主创新、原始创新 问：《建议》提出加快高水平科技自立自强。"十五五"期间，国资央企在全面增强自主创新能力、抢占 科技发展制高点方面，将有哪些重要举措？ 答：习近平总书记指出，抓产业创新，要守牢实体经济这个根基，坚持推动传统产业改造升级和开辟战 略性新兴产业、未来产业新赛道并重。近年来，国资央企深入学习贯彻习近平总书记重要指示精神和党 中央有关决策部署，在传统产业升级和新兴产业培育上协同发力，深入实施中央企业产业焕新、未来产 业启航、"AI+"等专项行动，"十四五"时期新兴产业领域投资年均增速超过20%，在新一代信息技术、 新能源、新材料、高端装备制造等领域打造了一批世界级产业集群，有力推动关键产业爬坡过坎、升级 发展。 "十五五"时期，我们将指导推动央企进一步聚焦主 ...

新华社北京12月19日电 题：不断增强国有企业核心功能、提升核心竞争力——访国务院国资委党 委书记、主任张玉卓 新华社记者王希 党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建 议》（以下简称《建议》），对未来五年我国发展作出顶层设计和战略擘画。 国资央企怎样落实好《建议》提出的"加强原始创新和关键核心技术攻关""巩固壮大实体经济根 基""深化国资国企改革"等关键任务？记者采访了国务院国资委党委书记、主任张玉卓。 四方面着力强化国资央企自主创新、原始创新 问：《建议》提出加快高水平科技自立自强。"十五五"期间，国资央企在全面增强自主创新能力、 抢占科技发展制高点方面，将有哪些重要举措？ 答：中央企业是科技创新的国家队，是国家战略科技力量的重要组成部分。近年来，国资央企把科 技创新作为"头号任务"，充分发挥新型举国体制优势，研发投入连续三年破万亿元，集中攻克了工业母 机、工业软件、基础材料等一批"卡脖子"关键核心技术，打造了嫦娥六号、"奋斗者"号等一批举世瞩目 的"大国重器"。 面向"十五五"，我们将聚焦解决影响国家发展安全和长远利益的重大科技问题，大力强化自主创 新、原始创 ...

党的二十届四中全会审议通过的《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》 （以下简称《建议》），对未来五年我国发展作出顶层设计和战略擘画。 国资央企怎样落实好《建议》提出的"加强原始创新和关键核心技术攻关""巩固壮大实体经济根基""深 化国资国企改革"等关键任务？记者采访了国务院国资委党委书记、主任张玉卓。 四方面着力强化国资央企自主创新、原始创新 问：《建议》提出加快高水平科技自立自强。"十五五"期间，国资央企在全面增强自主创新能力、抢占 科技发展制高点方面，将有哪些重要举措？ 答：中央企业是科技创新的国家队，是国家战略科技力量的重要组成部分。近年来，国资央企把科技创 新作为"头号任务"，充分发挥新型举国体制优势，研发投入连续三年破万亿元，集中攻克了工业母机、 工业软件、基础材料等一批"卡脖子"关键核心技术，打造了嫦娥六号、"奋斗者"号等一批举世瞩目 的"大国重器"。 面向"十五五"，我们将聚焦解决影响国家发展安全和长远利益的重大科技问题，大力强化自主创新、原 始创新，为实现高水平科技自立自强、建设科技强国提供坚实支撑。 四是着力构建高水平的创新生态。主动发挥大企业支撑引领作用，加强企业主导 ...

Core Viewpoint - The articles emphasize the importance of high-quality development and the cultivation of a strong leadership team within China National Petroleum Corporation (CNPC) to align with the Party's directives and enhance the company's core competitiveness [1][2][3]. Group 1: High-Quality Development - The 20th Central Committee of the Communist Party of China stresses the need for high-quality economic and social development, with a focus on self-reliance in technology and new productive forces [1]. - CNPC aims to implement the Party's directives by prioritizing talent development as one of its five strategic measures to ensure sustainable growth as a world-class energy and chemical company [1]. Group 2: Leadership Development - The Party has introduced new standards for leadership in state-owned enterprises, emphasizing the need for leaders to be politically strong, capable, and resilient [2]. - CNPC is committed to cultivating a leadership team that embodies these qualities, focusing on political loyalty and the ability to manage modern enterprises effectively [3][4]. Group 3: Innovation and Reform - The articles highlight the necessity for CNPC's leadership to embrace innovation and effective management practices to enhance the company's core competitiveness [3][4]. - There is a strong emphasis on the need for leaders to adapt to the challenges posed by global changes and to lead the company towards high-quality development [4][5]. Group 4: Strategic Planning and Future Orientation - CNPC is focused on enhancing its strategic capabilities to navigate future challenges, including the need to optimize traditional industries and foster emerging sectors [8][9]. - The company aims to develop leaders who possess strategic foresight and can effectively respond to market dynamics and technological advancements [8][9]. Group 5: Practical Experience and Capability Building - The articles stress the importance of practical experience in leadership development, advocating for leaders to engage in diverse roles and challenging environments to enhance their skills [9][10]. - CNPC is committed to providing its leaders with opportunities for hands-on experience to improve their ability to drive high-quality development [9][10]. Group 6: Creating a Supportive Environment - The articles discuss the need to foster a conducive environment for leadership within CNPC, emphasizing the importance of correct performance metrics and a supportive culture for innovation [10][11]. - The company is focused on establishing a robust assessment system that encourages leaders to prioritize value creation and long-term growth [11][12].

Core Points - The article emphasizes the importance of invigorating various business entities to enhance high-quality economic development in China, as outlined in the 20th Central Committee's Fourth Plenary Session [1] Group 1: State-Owned Enterprises (SOEs) - The article stresses the need to consolidate and develop the public ownership economy, focusing on strengthening state-owned enterprises and capital to enhance their competitiveness and innovation capabilities [2] - It highlights the importance of deepening reforms in state-owned enterprises to eliminate barriers to high-quality development and to better stimulate internal motivation and innovation [3] - The article calls for optimizing the layout and structure of state-owned capital, directing investments towards strategic and essential industries, and promoting the development of the real economy [4] Group 2: Enhancing Core Competitiveness - The article discusses the necessity for state-owned enterprises to better utilize market forces to fulfill national strategic missions, emphasizing the need for a robust evaluation system for their performance [5] - It advocates for the establishment of a modern enterprise system with improved governance structures to enhance operational efficiency and responsiveness to market changes [12] Group 3: Private Sector Development - The article underscores the critical role of the private economy in China's economic growth, noting that private enterprises account for over 90% of total enterprises and contribute significantly to employment and tax revenue [6][7] - It emphasizes the need to create a favorable environment for private enterprises, ensuring equal access to resources and fair competition [8] - The article also highlights the importance of supporting small and medium-sized enterprises (SMEs) and individual businesses, which are vital for innovation and employment [9] Group 4: Legal and Regulatory Framework - The article calls for strengthening legal protections for private property rights, ensuring that both public and private economic rights are inviolable [10] - It advocates for the establishment of a legal framework to support the development of the private economy, enhancing the predictability and stability of regulatory policies [10] Group 5: World-Class Enterprises - The article emphasizes the goal of building world-class enterprises that reflect national economic strength and competitiveness, advocating for a collaborative development of various ownership economies [11] - It discusses the need for fostering an entrepreneurial spirit and creating a supportive environment for entrepreneurs to thrive [13] - The article calls for increased investment in research and development to cultivate world-class innovation capabilities and enhance global market integration [14]

Group 1: Core Economic Development Strategies - The "15th Five-Year Plan" emphasizes the importance of focusing on the real economy, aiming to build a modern industrial system and strengthen the foundation of the real economy [1] - The plan outlines goals for a high-level modern industrial system, advocating for intelligent, green, and integrated development, with a focus on advanced manufacturing as a backbone [1] - Jiangsu province has made significant progress in advanced manufacturing during the "14th Five-Year Plan," focusing on 16 advanced manufacturing clusters and 50 industrial chains [1] Group 2: Importance of Enterprises - The development of industries is fundamentally linked to the quality of enterprises, which are driven by entrepreneurs, technical personnel, and management [2] - The "15th Five-Year Plan" calls for the acceleration of building more world-class enterprises, highlighting the need for improved enterprise development environments and quality [2] Group 3: State-Owned and Private Enterprises - Both state-owned and private enterprises are crucial to the foundation of the real economy in China, with recent reforms providing momentum for their rapid development [3] - The "15th Five-Year Plan" emphasizes the need for comprehensive reforms in both types of enterprises to achieve high-quality development [3] Group 4: State-Owned Enterprises in Jiangsu - Jiangsu's state-owned enterprises focus on key sectors such as energy, transportation, and environmental protection, playing a significant role in providing public goods [4] - The establishment of a 50 billion yuan fund aims to support strategic emerging industries, although it is relatively small compared to the province's total state-owned capital of 37 trillion yuan [4] Group 5: Private Enterprises in Jiangsu - Jiangsu is a major hub for private enterprises, with the added value of the private economy increasing from 5.1 trillion yuan in 2018 to 7.98 trillion yuan in 2024, accounting for 58.2% of the province's GDP [6] - Over 65% of the top 200 private enterprises in Jiangsu are engaged in advanced manufacturing, contributing significantly to innovation and technology [6] Group 6: Challenges and Opportunities for Private Enterprises - Despite a solid manufacturing base, Jiangsu's private economy faces challenges, including a low proportion of emerging industries and a reliance on traditional sectors [7] - The implementation of the "Private Economy Promotion Law" is seen as a significant benefit for private enterprises, providing better protection and fostering an environment conducive to innovation [7][8] Group 7: Policy Environment and Support - The sensitivity of private enterprises to policy changes necessitates a supportive government approach that goes beyond superficial assistance [8] - There is a need for deeper market-oriented reforms to release more resources to private enterprises, particularly in collaboration with educational and financial institutions [8]

Core Insights - Since the "14th Five-Year Plan," China's top 500 enterprises have made new strides in seeking progress while maintaining stability, enhancing development momentum, and playing a significant role in industrial upgrading, innovation capability enhancement, and international competition [1][2] Group 1: Performance Metrics - The threshold for entering the "2025 China Enterprise 500" list has increased for 23 consecutive years, reaching 47.96 billion yuan, up by 579 million yuan from the previous year [1] - The total operating revenue of the top 500 enterprises reached 11.015 trillion yuan, showing an increase from the previous year; net profit attributable to shareholders was 471 billion yuan, up by 4.39% [1][3] - The number of enterprises with revenues exceeding 100 billion yuan increased from 222 in 2020 to 267 in 2024, an increase of 45 [1] Group 2: R&D and Innovation - The top 500 enterprises invested 1.73 trillion yuan in R&D, achieving a record R&D intensity of 1.95%, marking an increase for eight consecutive years [2][5] - The average R&D intensity of the "2025 China Innovation 100" increased from 5.27% to 5.61%, an increase of 0.34 percentage points [2] Group 3: Structural Optimization - The operating revenue of the top 500 enterprises grew from 8.983 trillion yuan in 2020 to 11.015 trillion yuan in 2024, a growth of 22.62% [3] - The total assets increased from 34.358 trillion yuan to 46.085 trillion yuan, a growth of 34.13% [3] - The contribution to revenue growth from manufacturing, services, and other sectors was 40.48%, 40.29%, and 19.23%, respectively [5] Group 4: Global Competitiveness - The threshold for the "2025 China Top 100 Multinational Corporations" was 22.173 billion yuan, up by 2.333 billion yuan, or 11.76% from the previous year; total overseas assets reached 11.96 trillion yuan [2] - The average multinational index was 15.56%, an increase of 0.21 percentage points from the previous year [2] Group 5: Future Directions - Chinese enterprises are encouraged to increase long-term stable investments in basic research and key common technologies, leveraging the country's vast application scenarios to overcome core technology challenges [6][7] - The importance of a market-oriented, collaborative innovation system that integrates industry, academia, and research is emphasized to enhance the competitiveness of Chinese enterprises on the global stage [7]