Major SOEs, overseas partners sustain trade flows, supply chains

With China taking new policy measures to tackle the dual challenges of balancing COVID-19 mitigation with supporting economic growth in the short term, centrally administrated State-owned enterprises have been teaming up with foreign partners to sustain trade flows and ensure the smooth operation of global supply chains.
Central SOEs involved in energy, transportation equipment, infrastructure development and manufacturing have relied on China’s advantage of having the world’s most complete industrial system with the most diversified sectors to boost the nation’s foreign trade and deliver products on time to foreign customers.
Apart from developing global businesses, the government and SOEs will actively expand effective investment, and accelerate the developing pace of a number of major projects related to China’s 14th Five-Year Plan (2021-25) to create a more physical workload and new businesses, in order to minimize the impact caused by the COVID-19 pandemic, according to a circular issued by the State-owned Assets Supervision and Administration Commission of the State Council in late May.