Xi Jinping chairs the fifth meeting of the Central Committee for Deepening Reform and stresses

Improving the modern enterprise system with Chinese characteristics

Building a globally competitive open environment for scientific and technological innovation

Li Qiang, Wang Huning and Cai Qi attended

Xi Jinping, General Secretary of the CPC Central Committee, President of the State, Chairman of the Central Military Commission and Director of the Central Committee for Deepening Reform, chaired the fifth meeting of the Central Committee for Deepening Reform on the afternoon of June 11. The meeting reviewed and approved documents including the Opinions on Improving the Modern Enterprise System with Chinese Characteristics, the Guiding Opinions on Improving the Mechanism for Guaranteeing the Income of Grain-Growing Farmers and the Mechanism for Compensating the Interests of Major Grain-Producing Areas, and Several Opinions on Building a Globally Competitive Open Environment for Scientific and Technological Innovation.

When chairing the meeting, Xi Jinping stressed that to improve the modern enterprise system with Chinese characteristics, we must focus on giving play to the advantages of the socialist system with Chinese characteristics, strengthen Party leadership, improve corporate governance, and push enterprises to establish and improve a modern enterprise system featuring clear property rights, well-defined rights and responsibilities, separation of government and enterprise, and scientific management, so as to cultivate more world-class enterprises. To stabilize grain production and ensure food security, we must protect and stimulate the enthusiasm of farmers for growing grain and of local governments for promoting grain production, improve the mechanism for guaranteeing the income of grain-growing farmers and the mechanism for compensating the interests of major grain-producing areas, enhance the precision and effectiveness of policies, and consolidate the foundation of food security. We must adhere to promoting innovation through opening up, improve the institutional mechanisms for opening up science and technology, improve the global-oriented innovation system, actively integrate into the global innovation network, highlight key areas and key links, and shore up weaknesses in the institutions for open innovation.

Li Qiang, Wang Huning and Cai Qi, members of the Standing Committee of the Political Bureau of the CPC Central Committee and deputy directors of the Central Committee for Deepening Reform, attended the meeting.

The meeting pointed out that to improve the modern enterprise system with Chinese characteristics, we must respect the principal position of enterprises in business operations, adhere to a problem-oriented approach, and adopt classified policies and strengthen guidance according to enterprise size, stage of development, nature of ownership and other factors. We must strengthen the Party's overall leadership over state-owned enterprises, improve the institutional mechanisms for the Party's leadership over state-owned enterprises, push state-owned enterprises to strictly fulfill their responsibilities, improve the modern corporate governance of state-owned enterprises, and strengthen supervision and management of state-owned capital. We must encourage private enterprises with the conditions to establish a modern enterprise system, improve the corporate governance structure, regulate shareholder behavior, strengthen internal supervision, improve risk prevention mechanisms, pay attention to giving play to the leading role of Party building, and enhance internal management.

The meeting stressed that to improve the mechanism for guaranteeing the income of grain-growing farmers and the mechanism for compensating the interests of major grain-producing areas, we must place greater prominence on improving comprehensive agricultural production capacity, improve the policy systems for prices, subsidies and insurance, innovate ways to increase the efficiency of grain operations, improve the reward and subsidy incentive system for major grain-producing areas, explore multi-channel interest compensation methods for production and sales areas, and improve the support and protection system for grain production. We must take substantive steps in establishing an inter-provincial horizontal interest compensation mechanism and push major grain-producing areas, major grain-consuming areas and areas that balance grain production and consumption to fulfill their shared responsibility for ensuring food security. We must coordinate support for small farmers and new types of agricultural business entities, strengthen policy support, service guidance and interest linkage, and promote the organic connection between small farmers and modern agricultural development.

The meeting pointed out that to build a globally competitive open environment for scientific and technological innovation, we must adhere to combining "going global" with "bringing in", expand international scientific and technological exchanges and cooperation, strive to build win-win partnerships, and plan ahead and deeply participate in global science and technology governance. We must strengthen the development of an internationalized scientific research environment, focus on the practical concerns of scientific researchers, strive to solve prominent problems, and ensure that talent can be brought in, retained and well used. We must continuously improve the science and technology security system and risk prevention mechanisms, and firmly uphold the security bottom line in an open environment.

Members of the Central Committee for Deepening Reform attended the meeting, and responsible comrades from relevant departments of central and state organs attended as non-voting participants.