SOEs crucial to China's economic growth

State-owned enterprises are playing a key role in boosting China's economic growth, Lu Jin, chairman of China National Gold Group Co Ltd, said on Sunday.

Lu, who is also a member of the 14th National Committee of the Chinese People's Political Consultative Conference, highlighted flagship projects such as the C919 aircraft, domestically produced cruise ships, the Shenzhou spacecraft series and the Fuxing high-speed trains, as symbols of the capabilities and responsibilities of SOEs.

"State-owned enterprises have made significant contributions to promoting high-quality economic development, ensuring the implementation of major Party and State strategies, advancing self-reliance in high-level science and technology, and better meeting the people's aspirations for a better life," he said.

Reflecting on his visit to a manufacturing company in Hunan province, Lu Jin marveled at their efficiency, producing an excavator every six minutes and an aerial work device every seven and a half minutes.

Lu stressed the importance of supporting the development of both SOEs and private enterprises, saying more efforts should be made to promote the innovative development of enterprises and propel China's economy towards sustained growth and stability.