local authorities in different regions have made fruitful explorations into how to manage State-owned assets.

State-owned assets and State-owned enterprise reforms have been slow in some areas.

State-owned capital investment companies are an important way to improve the supervision of State-owned assets, with the focus on capital management.

State-owned capital investment companies serve as an isolation layer between the government and State-owned enterprises and they are different to some extent.

The government needs to improve the State-owned assets management system by separating the supervision, decision-making, and implementation.

This explains the basic features, advantages, disadvantages, and reasons behind the supervisory model.

The nation's innovation chain includes basic and applied research, testing, commercialization, and industrialization.