Story perspectives

China Aims for SOE Transformation with $13.66 Trillion Goal

1/29/2026

Summary

Story summary

China will enhance the quality and performance of its state-owned enterprises (SOEs) in 2026, according to Pang Xiaogang from the State-owned Assets Supervision and Administration Commission (SASAC).
The initiative will focus on five priorities: improving performance, boosting innovation, optimizing industrial layout, deepening reforms, and tightening risk controls.
By the end of 2025, central SOEs' total assets will exceed 95 trillion yuan (about US$13.66 trillion), with profits reaching 2.5 trillion yuan.
Research and development spending by SOEs will rise to 1.1 trillion yuan, reflecting a consistent increase over four years.
Investment in strategic emerging industries will account for 41.8% of total investment.

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Story summary

China will enhance the quality and performance of its state-owned enterprises (SOEs) in 2026, according to Pang Xiaogang from the State-owned Assets Supervision and Administration Commission (SASAC).
The initiative will focus on five priorities: improving performance, boosting innovation, optimizing industrial layout, deepening reforms, and tightening risk controls.
By the end of 2025, central SOEs' total assets will exceed 95 trillion yuan (about US$13.66 trillion), with profits reaching 2.5 trillion yuan.
Research and development spending by SOEs will rise to 1.1 trillion yuan, reflecting a consistent increase over four years.
Investment in strategic emerging industries will account for 41.8% of total investment.