An employee loads cargo bound for South Africa at Qingdao Port, Shandong province. [Photo by ZHANG JINGANG/FOR CHINA DAILY]

Shandong province has launched a guideline to improve the innovation ability as well as the high-quality development of provincial State-owned enterprises (SOEs), local media reported.

By 2025, the province aims to cultivate five world-class SOEs with international competitiveness, 15 first-class enterprises with market dominance, and about 100 "little giants", or leading small and medium enterprises that specialize in niche sectors.

In recent years, Shandong has made great progress in the reform and development of SOEs, with assets, incomes, profits and other indicators hitting a record high. The province's three-year action plan for SOEs reform has been at the forefront of the country, playing an important supporting role in maintaining the smooth operation of the regional economy.

Efforts will also be made to improve the competitiveness of the State-owned economy to help Shandong establish a high-quality development evaluation system index that promotes the development quality and efficiency of enterprises.

Shandong will establish specific measures in R&D investment, financial support, talent introduction and education, platform construction, and other aspects to enhance the innovation capacity of the State-owned economy.

Shandong SOEs are expected to take the lead in accelerating green and low-carbon development to build the Yellow River basin factor trading market alliance, a technology transfer center and other platforms to advance the environmental protection and high-quality development in the region.

Shandong SOEs will strengthen cooperation with commodity import and export enterprises to promote steady growth of foreign trade.