On June 17, the Standing Committee of the CPC Shandong Energy Committee held a meeting to study the important spirit of General Secretary Xi Jinping's speech at the fifth meeting of the Central Comprehensive Deepening Reform Commission, and while discussing measures for implementation. Li Wei, Secretary of the CPC Shandong Energy Committee and Chairman of SDE, presided over the meeting.

The meeting pointed out that General Secretary Xi Jinping's important speech at the fifth meeting of the Central Comprehensive Deepening Reform Commission made significant arrangements and formulated clear requirements around improving the modern enterprise system with Chinese characteristics and creating an open environment for technological innovation with global competitiveness, which provides scientific guidance and fundamental principles for advancing reforms.

We must enhance the overall leadership of the Party over SOEs, improve modern corporate governance, and promote the establishment of a modern enterprise system characterized by distinct property rights, clarified responsibilities, and scientific management. This will enhance the science-based governance, market-oriented operations, and lean internal management.

We must give primacy to innovation throughout the overall modernization, deepen international technological exchanges, utilize domestic and international innovation resources, and proactively integrate into the global innovation network. Efforts must also be made to improve the systems for technological security and risk prevention to fully create a sound innovation ecosystem.