The State-owned Assets Supervision and Administration Commission (SASAC) will actively promote self-innovation and resource-saving of state-owned enterprises (SOEs), according to a release provided by the SASAC at a press conference in Beijing Thursday.

"It is SASAC's duty to encourage enterprises to expand investment in technology development, build and improve technology development system, master a series of key technologies and possess a number of independent intellectual property rights," the release said.

The SASAC will deepen the reform of research-oriented enterprises, encourage the integration of manufacturers, universities and research institutes and accelerate the transformation of technological innovation to productivity.

Meanwhile, the SASAC will guide enterprises to double efforts in adopting new and high technologies and in using advanced applicable technologies to transform traditional industries and bring the equipment and techniques of enterprises to a new level.

The SASAC will continue to readjust the layout and structure of state economy and guide restructuring of enterprises which possess strong connections in the same industry, according to the release.

The SASAC will also speed up formation of large companies and enterprise groups with international competitiveness to enhance the control, influence and driving force of state economy.

Source: Xinhua