Chongqing — Ten of Chongqing's major state-owned enterprises (SOEs) have unveiled their redefined functional roles and strategic targets on June 6, marking a key step toward building first-class, modern enterprises. The move follows a major restructuring aimed at improving efficiency, competitiveness, and long-term growth.

The revamped state-owned enterprises (SOEs) now span a wide range of critical sectors — from advanced manufacturing and modern agriculture to services and cultural industries — aligning with Chongqing’s ambition to become a model of high-quality development under the vision of a “New Chongqing.”

Ten of Chongqing's major state-owned enterprises (SOEs) have unveiled their redefined functional roles and strategic targets on June 6. (Photo/Chen Zhan)

One standout example is the Chongqing Urban Investment Group, a major driver of the city's infrastructure development. The group has been involved in constructing nearly 70% of the city's large-scale bridges, tunnels, and expressway systems in the urban core. 

Looking ahead, Shi Fei, General Manager of Chongqing Urban Investment Group, stated that the group's focus is shifting towards digitalization. 

"We're leveraging our intelligent transportation and massive datasets to enable smarter dispatching and maintenance. This is expected to boost the carrying capacity of roads and bridges by up to 40%, improving public services and reducing citizens' concerns," he noted.

Liu Jiayi, Deputy Director of the Chongqing State-owned Assets Supervision and Administration Commission, told Bridging News that the goal of building world-class enterprises requires a comprehensive approach, spanning five key areas: branding, management, talent, innovation, and industry transformation.

A key strategy has been the shift from decentralized operations to precise functional positioning. For instance, Chongqing Yufu Holding Group is now developing a dual-engine model that combines industrial investment with capital operations. By promoting innovative financial tools — such as asset securitization, mergers and acquisitions, and market value management — the group aims to unlock existing assets, improve asset allocation, and boost investment returns. It plans to revitalize assets worth over 7 billion yuan (approximately 970 million USD) by 2027.

Chongqing's city view. (Photo/Chen Zhan)

Liu emphasized that strengthening core competitiveness is essential to driving the city's development. To support this, the Chongqing State-owned Assets Supervision and Administration Commission will introduce targeted incentives, including special performance bonuses and compensation packages, to facilitate the transformation of state-owned enterprises (SOEs).

In advancing Chongqing’s high-quality development, state-owned enterprises (SOEs) have become key drivers of urban renewal and industrial upgrading. In the past, Chongqing's state-owned enterprises (SOEs) faced challenges such as operating losses, fragmented business segments, and weak market competitiveness. However, in recent years, the Chongqing State-owned Assets Supervision and Administration Commission (SASAC) has promoted resource integration, loss reduction, asset optimization, and strategic restructuring. As a result, the number of key SOE groups has been reduced from 51 to 33, marking a new phase in which Chongqing’s state-owned economy is becoming more integrated, efficient, and of higher quality.