The director of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), Li Rongrong, commented on June 25 that out of 125 national level state-owned companies, none has a world class brand. Despite the fact that China is the second largest industrial manufacturing country, Chinese companies have only become competitive on the low and mid-low end of manufacturing. National state-owned companies gained big improvements during the past several years. However, that was basically riding on the countrywide development wave. Li believes that these national companies are still weak on core competitiveness and lack independent innovations. Today, 70% of new industrial products are based on external technologies. Li announced that SASAC is establishing a new motivation system to help the state-owned companies improve, .
Source: China Review News, June 25, 2010