Xi stresses fostering world-class enterprises

Chinese President Xi Jinping on Monday urged efforts to speed up fostering world-class enterprises and strengthen the cultivation of talents in basic academic disciplines.

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks while chairing the 24th meeting of the central commission for deepening overall reform.

The meeting reviewed and adopted several guidelines on the above-mentioned issues, along with other suggestions on advancing high-quality development of inclusive finance and enhancing state-owned enterprises' (SOE) capabilities of developing original technology.

China will accelerate the building of world-class enterprises with outstanding products and brands, leading innovation, and modern governance, said Xi, also head of the central commission for deepening overall reform.

The country will promote high-quality development of inclusive finance and build a sound financial system, which is highly adaptable, competitive, and inclusive, to better meet diversified financial needs of the people and the real economy, said Xi.

Xi also stressed efforts to train a large number of basic research talents urgently needed for China's innovation-driven development, and encouraged state-owned enterprises to improve their innovation systems and develop sources of original technologies, Xi noted.

Li Keqiang, Wang Huning and Han Zheng, who are members of the Standing Committee of the Political Bureau of the CPC Central Committee and deputy heads of the central commission for deepening overall reform, attended the meeting.

The meeting called for support and guidance for industry-leading enterprises and those possessing key technologies in deepening reform and strengthening innovation, and urged efforts to support enterprises in transforming the advantages of China's super-large market into a global competitive edge.

In terms of pursuing the high-quality development of inclusive finance, the meeting stressed deepening supply-side structural reform in the financial sector to distribute more resources to key areas and weak links, preventing financial risks and strengthening financial regulations.

The country should expedite the construction of a system for cultivating talents in basic academic disciplines with a long-term vision, and let higher-education institutions play their leading role in nurturing researchers in these disciplines, said the meeting.

To promote the SOEs to establish cradles for original technologies, the meeting said efforts should be focused on core competitiveness of industries, supply of original technologies, and plan in advance for exploring cutting-edge and disruptive technologies.