State-owned Assets Supervision and Administration Commission of the State Council: Resolutely Resist "Involution" Competition

On September 25, Zhang Yuzhuo, Secretary and Director of the Party Committee of SASASAC of the State Council, chaired a symposium on the economic operation of some state-owned enterprises to understand the economic operation of enterprises and the difficulties and challenges they are facing, focusing on stabilizing electricity prices, stabilizing coal prices and preventing vicious competition of "involution", and listened to the opinions and suggestions of enterprises. We will further study policies and measures to consolidate the foundation for high-quality development of enterprises. Li Zhen, member and deputy director of the SASAC Party Committee of the State Council, attended the meeting. The responsible comrades of six central enterprises, including

China Huadian, China Mobile, China Aviation Group, China Construction, China Coal Group and Poly Group , introduced the economic operation of the enterprises, analyzed the development trend of the industry, and put forward suggestions based on the actual work. Zhang Yuzhuo responded to the concerns of enterprises one by one. He pointed out that since this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as its core, the central enterprises have calmly responded to various risks and challenges, steadily increased value creation, continuously strengthened development momentum, strong basic supply guarantee, continuously improved operation quality and efficiency, and further consolidated the steady and positive trend of economic operation. SASAC of the State Council will further optimize the regular communication and exchange mechanism for the economic operation of state-owned enterprises, attach great importance to and seriously study the opinions and suggestions put forward by enterprises, actively coordinate and solve practical problems, and precisely help enterprises alleviate difficulties and promote development.

Zhang Yuzhuo stressed that we should resolutely integrate our thoughts and actions into the Party Central Committee's scientific judgment of the economic situation and the decision-making and deployment of economic work, maintain strategic strength, unswervingly do our own thing well, pay attention to promoting the "five values", and better help stabilize employment, enterprises, markets and expectations. We should focus on sound operation, anchor the goal of "one increase, one stability and four promotion", optimize business strategy, focus on tapping potential, reduce costs and increase efficiency, and improve business efficiency. Efforts should be made to optimize the investment structure, focus on key areas such as strengthening the foundation of the industrial chain, infrastructure construction, energy and resources security, do a good job in project docking and factor support, focus on digital green upgrading and intrinsic safety improvement, accelerate equipment renewal and transformation, continue to strengthen investment management and control, dynamically optimize the investment layout, and lead high value growth with high quality investment. We should take the lead in resolutely resisting "involution" competition , firmly follow the line of differentiated development and brand competition, strengthen industry self-discipline , guide the healthy, benign and sustainable development of the industry, and build an open and shared industrial ecology with coexistence of competition and cooperation. Efforts should be made to strengthen risk prevention, further improve the normal risk monitoring and early warning mechanism, strengthen the risk management of key businesses, and firmly adhere to the bottom line of risk provention and control. The responsible comrades of the relevant departments and bureaus of the SASAC of

the State Council attended the meeting.