China has made further progress in improving the management and oversight of state-owned assets, with efforts to refine management systems, strengthen supervision and improve asset utilization, according to a State Council report on the management of state-owned assets in 2025, submitted recently to the 25th session of the Standing Committee of the 14th National People's Congress for deliberation.

By the end of 2025, state-owned enterprises, excluding financial enterprises, had total assets of 430.7 trillion yuan (about 64.11 trillion U.S. dollars), with state-owned capital equity reaching 115.3 trillion yuan, according to the report.

State-owned financial enterprises had total assets of 533.9 trillion yuan and state-owned financial capital equity of 36.9 trillion yuan, while state-owned assets in administrative departments and public institutions totaled 71.9 trillion yuan, by the end of 2025.

The total area of state-owned land stood at 523.604 million hectares at the end of 2025, while the country's total water resources amounted to 2.72293 trillion cubic meters in 2025, according to the report.

These figures indicate that state-owned assets have generally maintained and increased their value amid relatively complex circumstances, said He Daixin, a researcher at the Chinese Academy of Social Sciences.

Progress was made in improving the systems and mechanisms for state-owned asset management and supervision, refining the modern corporate system with distinctive Chinese features, and strengthening the role of performance assessment in providing incentives and constraints.

Further progress included strengthening the foundation for managing state-owned financial capital, improving coordination between fiscal and financial policies, putting state-owned assets to better use, and laying a solid spatial foundation for the protection and utilization of natural resource assets, according to the report.

Looking ahead, the report set out priorities, including further deepening reform of state-owned assets and enterprises and optimizing and strengthening state-owned financial capital.

Other priorities include strengthening full-scope and whole-process management of state-owned assets in administrative departments and public institutions, deepening reform of natural resource asset management, and systematically improving the quality and efficiency of state-owned asset management.