By the end of 2025, the total assets of central enterprises exceeded 95 trillion CNY; in 2025, they achieved a total profit of 2.5 trillion CNY, completed fixed-asset investment of 5.1 trillion CNY, and paid taxes and fees of 2.5 trillion CNY; their R&D investment reached 1.1 trillion CNY, exceeding one trillion CNY for four consecutive years... On January 28, the State Council Information Office held a press conference, at which the State-owned Assets Supervision and Administration Commission of the State Council released the annual performance report of central enterprises.
It is reported that the 2026 goal for the high-quality development of central enterprises is "two assurances and two striving for". The State-owned Assets Supervision and Administration Commission of the State Council will solidly carry out the establishment of new central enterprises and strategic restructuring, vigorously strengthen independent innovation and original innovation, study and draft work documents on promoting central enterprises to cultivate emerging pillar industries, and promote central enterprises to explore the establishment of "AI+" industrial communities.
Pang Xiaogang, Deputy Director of the State-owned Assets Supervision and Administration Commission of the State Council, stated that in 2025, central enterprises made solid progress in improving quality and efficiency and continued to strengthen scientific and technological innovation. At the same time, the reform of state-owned enterprises has been continuously deepened, which has stimulated new vitality in breaking down deep-seated institutional and mechanism obstacles.
Optimizing the layout and adjusting the structure of the state-owned economy through restructuring and integration is a hot topic of concern from all sectors of society and also an important part of the reform of state-owned enterprises. In 2025, China Yajiang Group and China Changan Automobile Group were established one after another. The integration of central enterprises' cruise operation resources and power battery resources advanced in an orderly manner. 8 groups of 17 units in key fields such as new materials and artificial intelligence signed contracts collectively to carry out professional integration.
Next step, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) will focus on the 'three concentrations' of state-owned capital, take restructuring and integration as a key measure, solidly advance the optimization of the layout and structural adjustment of the state-owned economy, and accelerate the building of more world-class enterprises," said Lin Qingmiao, Director of the Enterprise Reform Bureau of SASAC. Specifically, efforts will be made in three aspects: solidly carrying out the establishment of new central enterprises and strategic restructuring, further promoting professional integration, and supporting central enterprises in conducting high-quality mergers and acquisitions. Among them, the establishment of new central enterprises and strategic restructuring should further highlight the supporting role of central enterprises in such fields as strategic security, industrial leadership, national economy and people's livelihood, and public services; professional integration means supporting enterprises with strong innovation capabilities as the main body to carry out horizontal integration of similar businesses and vertical integration of upstream and downstream industrial chains.
Lin Qingmiao emphasized that it is necessary to further strengthen restructuring, integration, and fusion, give full play to the synergistic effect, release the dividends of reform to the maximum extent, and continuously enhance core functions and core competitiveness.
Developing emerging industries is a "must" for central enterprises to optimize their layout and structure. Zhang Jianlong, Director of the Science, Technology and Innovation Bureau of the State-owned Assets Supervision and Administration Commission of the State Council, stated that the focus of continuing to promote central enterprises to accelerate the layout of emerging industries is reflected in the "three emphases", namely, emphasizing the new goal of "systematic layout and leapfrog development", emphasizing the new idea of "phased cultivation and classified implementation of policies", and emphasizing the new mechanism of "system empowerment and coordinated efforts".
We are researching and drafting a work document on promoting central enterprises to cultivate emerging pillar industries, guiding central enterprises to achieve leapfrog development from investment in major projects, cultivation of leading enterprises, breakthroughs in key fields to the optimization of the overall layout of the state-owned economy," said Zhang Jianlong. The State-owned Assets Supervision and Administration Commission of the State Council will also promote central enterprises to drive the integrated development of the industrial chain's upstream and downstream as well as all links of the innovation chain on a larger scale and at a deeper level.
Artificial intelligence is an important driving force behind the new round of technological revolution and industrial transformation. Pang Xiaogang stated that in 2026, state-owned assets and central enterprises will promote the "AI+" special action with greater intensity, focusing on key areas such as embodied intelligence, energy and electricity, exploring the establishment of an "AI+" industrial community, and under the premise of safety and compliance, accelerating the opening and development of data resources in key fields such as transportation and logistics, smart energy, green and low-carbon, and financial services.
Pang Xiaogang pointed out that the goal of central enterprises' high-quality development in 2026 is "two assurances and two striving for": ensuring the continuous growth of added value and striving to match the national GDP growth rate; ensuring that the "one profit and five rates" operating indicators (total profit, operating cash collection rate, return on net assets, R&D investment intensity, labor productivity per employee, asset-liability ratio) remain stable and positive, and striving for an overall optimization.
