On September 14, the State-owned Assets Supervision and Administration Commission (SASAC) and the Ministry of Industry and Information Technology held the Launch Ceremony of the Alliance Action for Central SOEs' Industrial Chain Integration and Development (hereinafter referred to as the "Alliance Action"). Weng Zuliang, Party Group Secretary and Chairman of China Minmetals, attended the ceremony.

The Alliance Action will be jointly organized by SASAC and the Ministry of Industry and Information Technology. It will be hosted by the China Federation of Industrial Economics, with the participation of relevant central SOEs. The program aims to select a batch of key industrial chains from central SOEs each year and conduct 6 to 8 specialized activities which focus on areas such as inter-enterprise collaboration within the central SOEs, synergy between central SOEs and small and medium-sized enterprises (SMEs), with a particular emphasis on seven aspects of supply-demand matching, collaborative support, innovation cooperation, resource sharing, industry empowerment, financial-industrial integration, and cooperation between central state-owned enterprises and local governments. These efforts will result in a series of demonstration projects. The Alliance Action encompasses five aspects: building new mechanisms together to achieve multi-dimensional collaboration, establishing a new foundation together to strengthen the industrial development base, sharing new achievements together to ignite the source of industrial development, creating a new ecosystem together to forge a mutually beneficial community, and seeking new development together to seize the initiative in future competition.

The head of the Bureau of Planning and Development of SASAC stated that SASAC would effectively leverage the advantages of central SOEs in terms of industrial foundations and demand generation. This will provide solid support for the construction of a modern industrial system and the accelerated establishment of a new development pattern. For one thing, a concerted effort will be put to advance the transformation and upgrading of traditional industries. SASAC will guide enterprises to focus on weak links in the industrial chain, and promote the implementation of significant investment projects to strengthen and supplement these links. Moreover, it will consolidate the leading position of advantageous industries and accelerate the "going global" of Chinese equipment, technologies, products, and services to actively integrate into global industrial and supply chains. Furthermore, SASAC will deepen the empowerment of industries with digital intelligence and nurture more platform-based enterprises characterized by the digital economy and the information age. For another thing, SASAC will vigorously promote the development of strategic emerging industries. It will focus on strategic emerging industries such as next-generation mobile communications and artificial intelligence. Besides, it will encourage eligible central SOEs to act as responsible entities for industrial development, increase state capital investment, promote specialized integration, and ensure clear goals, defined subjects, and specific tasks, so as to accelerate the creation of a group of leading modern industrial chain enterprises with core competitive advantages.