Central SOEs invest 2 trln yuan in emerging industries in first 11 months

A staff member works at a display factory in southwest China's Chongqing Municipality, Sept. 20, 2024. (Xinhua/Wang Quanchao)

BEIJING, Dec. 24 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) completed investment of 2 trillion yuan (about 278.26 billion U.S. dollars) in strategic emerging industries from January to November, a year-on-year increase of 18.7 percent, official data showed on Tuesday.

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.

During the period, central SOEs achieved an added value of 9.3 trillion yuan.

Their annualized labor productivity for all employees increased 3 percent year on year, and the intensity of R&D expenditure was 2.6 percent during the period.

In 2025, central SOEs will focus on enhancing their core functions and improving their core competitiveness by deepening reform, strengthening innovation and optimizing structures, the commission said.