China's SOEs Invest US$278.26 Billion In Emerging Industries In 11 Months

Fahad Shabbir (@FahadShabbir) Published December 26, 2024 | 10:45 AM

BEIJING, (UrduPoint / Pakistan Point News / WAM - 26th Dec, 2024) China's centrally-administered state-owned enterprises (SOEs) invested 2 trillion Yuan (about US$278.26 billion) in strategic emerging industries from January to November, a year-on-year increase of 18.7 percent, according to official data released on Tuesday.

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Investment in emerging industries accounted for more than 40 percent of central SOEs' total investment for the first time, according to the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

According to China Central Television (CCTV), during the specified period, SOEs generated an added value of 9.3 trillion yuan. Their annualised labour productivity rate increased by 3 percent compared to the previous year, while research and development expenditures accounted for 2.6 percent of total spending, reflecting an increase of 0.1 percentage points year-on-year.

China's SOEs Invest US$278.26 Billion In Emerging Industries In 11 Months

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