State-owned enterprises administered by the central government are eyeing high-quality development to underpin broader economic and social development as they make growth plans for the 14th Five-Year Plan (2021-25).

Allocation of resources for the centrally administered SOEs will be further optimized, and their presence in strategic emerging industries will be consolidated, Hao Peng, head of the State-owned Assets Supervision and Administration Commission, told a news conference on Feb 23.

Central SOEs have long played a key role in the country's economic development. Currently, the overseas assets of central SOEs stand at 8 trillion yuan ($1.26 trillion) and they have a presence in more than 180 countries and regions.

The total assets of these enterprises reached 69.1 trillion yuan by the end of last year.

In the next five years, the high-quality development of the central SOEs will be further enhanced, with progress seen in their scale of business and profitability, Hao said.