Weng Jieming, an NPC Standing Committee member and deputy director of the NPC’s
Fiscal and Economic Committee, told the 11th Central Enterprises Investment
Development Conference that central enterprises should be the main force in
future industries but current SOE frameworks are ill-suited to high-risk,
long-cycle projects. He proposed designing future industries — including
advanced emerging sectors — as a separate category and creating investment
“special zones” with longer cycle horizons, diversified equity structures and
tolerance for trial-and-error. He urged the state-owned assets regulator to
issue special rules: assess returns on future-industry investment funds over at
at least 10–15 years (5–7 years minimum for emerging sectors) and judge performance
on whole‑fund, full‑cycle aggregated returns rather than individual project
outcomes during the fund’s life.
