On July 2 the State-owned Assets Supervision and Administration Commission
(SASAC) held a special meeting directing faster industrial-structure upgrading
and higher state-capital efficiency. It called for tailoring measures to develop
new-quality productive capacity locally and to advance the 'three
concentrations' of state capital to improve allocation and operating efficiency.
SASAC prioritized creating several world-class, globally competitive industry
clusters, strengthening industrial resilience and security, and closing gaps in
industrial foundations to build secure, resilient supply chains. It instructed
central SOEs to step up technology innovation, accelerate formation of national
strategic science-and-technology capabilities, expand industry-facing basic
research and frontier R&D, and forge an open, collaborative innovation ecosystem
linking basic research, applied development and commercialization. The
commission also stressed accelerating development of science-and-technology
talent, especially in basic frontier areas and industry-common technologies.
