A worker operates at a factory of Harbin Boiler Co Ltd of Harbin Electric Corporation in Harbin, Northeast China's Heilongjiang province, April 14, 2022. (PHOTO / XINHUA）
BEIJING – The fixed-asset investment of China's centrally administrated state-owned enterprises (SOEs) increased 5.6 percent year-on-year to 3.6 trillion yuan (about $531.74 billion) in the first 11 months of 2022, data from the country's SOE regulator showed.
The investment structure of central SOEs was optimized last year, said Peng Huagang, spokesperson for the State-owned Assets Supervision and Administration Commission.
Central SOEs' investment in strategic emerging industries remained at a high level, accounting for more than 20 percent of the total
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Central SOEs' investment in strategic emerging industries remained at a high level, accounting for more than 20 percent of the total. Investment in new-energy vehicles, communications and electronics manufacturing maintained double-digit growth, Peng said.
Central SOEs will continue to increase investment in sectors such as cloud computing, broadband infrastructure network, 5G and 6G, industrial Internet, high-end equipment, new-generation information technology, and new materials, he said.
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Revenues of central SOEs increased 8.3 percent year-on-year in 2022, while profits gained 5.5 percent from a year ago.