China's SOEs step up tech innovation, restructuring efforts

China's centrally administered state-owned enterprises (SOEs) expanded their R&D spending by an average of 14.5% each year from 2016 to 2020, and their investments in strategic emerging industries surged 32% in 2023, said Wang Hongzhi, vice chairman of the State-owned Assets Supervision and Administration Commission of the State Council, on Friday.

July 29, 2024

China's central SOEs to invest over 3 trillion yuan in equipment upgrades

​China's centrally-administered State-owned enterprises will invest over 3 trillion yuan ($413.94 billion) for large-scale equipment upgrades over the next five years, aiming to stay at the forefront of the latest technological and industrial advancements, said government officials on Friday.

July 29, 2024

Official: Technological innovation 'top task' of China's central SOEs

China's centrally-administered state-owned enterprises (SOEs) have prioritized technological innovation as their "top task," leading to increased research investments and multiple breakthroughs over the past years, an official said Friday.

July 26, 2024