An aerial view of an offshore oil and gas drilling platform of Sinopec Shengli Oilfield in operation in Bohai Bay, Shandong Province, Jan. 17, 2023. [Photo/VCG]

China's state-owned enterprises (SOEs), the country's economic backbone, have made significant progress in the past decade, with historic breakthroughs achieved in key areas to boost economic development.

"The quality and efficiency of centrally administered SOEs have improved comprehensively, and their vitality and competitiveness have been enhanced across the board," Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission of the State Council, told a press conference on February 23, 2023.