State Councilor Wang Yong pressed State-owned assets and State-owned enterprises (SOEs) for more efforts in reform and innovation, to usher in a new development pattern, promote high-quality development, and facilitate common prosperity during the 14th Five-Year Plan period, during his inspection to SOEs in Central China's Hubei province, from Sept 25 to 26.

Wang learned about production and operation, reform and innovation, and Party building during his tour of industrial bases, manufacturing shops, operation sites, and R&D centers of SOEs, including the China Three Gorges Corp, Wuhan Iron and Steel Corp, HGTECH, China Information and Communication Technologies Group Corp, and Dongfeng Motor Corp.

Tasks for reform should be fulfilled, Wang said, adding that efforts should be made to achieve more breakthroughs in reform of labor forces, staffing, and distribution to underpin and vitalize enterprises' development.

SOEs should prioritize technologies and talents, focus on core technologies and competitiveness, beef up collaborative research, and strengthen independently controllable industrial and supply chains, with a goal of rising to world-class trailblazers, Wang said.

SOEs and regional entities should cooperate in fields like development plan synergies and project construction, Wang said, adding that the comprehensive leadership of the Communist Party of China for SOEs should be strengthened, with the spirit of Party building supporting the development of enterprises.

Wang also attended the relocation and unveiling ceremony of the headquarters of China Three Gorges Corp in Wuhan, urging the group to become an exemplar of SOE-regional entities’ cooperation and push forward the Yangtze River Economic Belt’s development.