SOEs pumping large sums into R&D
1 month, 1 week ago

SOEs pumping large sums into R&D

China Daily  

China's centrally-administered State-owned enterprises have played a leading role in developing new quality productive forces by investing more than 1 trillion yuan annually in research and development over the past two years, and major technological achievements have continued to emerge, according to a new report. Tan added that SOEs should strengthen cooperation in industrial and supply chains, boost efforts to promote the transformation and industrial application of scientific and technological achievements, jointly transform traditional industries and cultivate emerging industries. Last year, investments by SOEs in strategic emerging industries increased by 32.1 percent year-on-year, and total annual revenues of the industries exceeded 10 trillion yuan, the report said. "Private enterprises account for more than 80 percent of national specialized and sophisticated 'little giant' businesses, and over 90 percent of high-tech enterprises, playing an indispensable role in the development of new quality productive forces," said Qiu Xiaoping, deputy chairman of the federation.

Development Technological State Industries Enterprises Private Enterprises Soes Large Sums  rd  development  yuan  total  innovation  technological  enterprises  soes  industries  technologies  pumping  trillion  large  sums

History of this topic

SOEs pumping large sums into R&D
1 month, 1 week ago

SOEs pumping large sums into R&D

China Daily  

China's centrally-administered State-owned enterprises have played a leading role in developing new quality productive forces by investing more than 1 trillion yuan annually in research and development over the past two years, and major technological achievements have continued to emerge, according to a new report. Tan added that SOEs should strengthen cooperation in industrial and supply chains, boost efforts to …

SOEs pumping large sums into R&D
1 month, 1 week ago

SOEs pumping large sums into R&D

China Daily  

An employee from the second drilling unit of CNPC Greatwall Drilling Co works on a drilling site in the Gulong shale oil formation in Daqing, Heilongjiang province, in late September. China's centrally-administered State-owned enterprises have played a leading role in developing new quality productive forces by investing more than 1 trillion yuan annually in research and development over the past …

R&D tax deductions save companies trillions
3 months ago

R&D tax deductions save companies trillions

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. More than 629,000 companies across China have benefited from a total of 3.45 trillion yuan in R&D expense tax deductions last year, said the country's top tax authority in a recent press conference. Huang Yun, spokesperson of the State Taxation Administration, said …

SOE purchase reform set to spur SMEs
4 months, 2 weeks ago

SOE purchase reform set to spur SMEs

China Daily  

An employee oversees a robot arm operating on the production line of a turbine manufacturer in Harbin, Heilongjiang province. The State-owned Assets Supervision and Administration Commission of the State Council, China's top State assets regulator, and the National Development and Reform Commission, the country's top economic regulator, recently issued a guideline on regulating central SOEs' procurement activities to build a …

SOE purchase reform set to spur SMEs
4 months, 2 weeks ago

SOE purchase reform set to spur SMEs

China Daily  

An employee oversees a robot arm operating on the production line of a turbine manufacturer in Harbin, Heilongjiang province. The State-owned Assets Supervision and Administration Commission of the State Council, China's top State assets regulator, and the National Development and Reform Commission, the country's top economic regulator, recently issued a guideline on regulating central SOEs' procurement activities to build a …

Big-ticket SOE buying boon for foreign firms
4 months, 3 weeks ago

Big-ticket SOE buying boon for foreign firms

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. Big-ticket investments in new equipment by China's centrally administered State-owned enterprises will create fresh growth points for both domestic private firms and foreign companies alike, said experts and business leaders, stressing that all participants share entwined interests and great economic cooperation potential. Central SOEs will implement a series …

Big-ticket SOE buying boon for foreign firms
4 months, 3 weeks ago

Big-ticket SOE buying boon for foreign firms

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. Big-ticket investments in new equipment by China's centrally administered State-owned enterprises will create fresh growth points for both domestic private firms and foreign companies alike, said experts and business leaders, stressing that all participants share entwined interests and great economic cooperation potential. Central SOEs will implement a series …

Striking a balance in support extended to SOEs, other enterprises
4 months, 3 weeks ago

Striking a balance in support extended to SOEs, other enterprises

China Daily  

Employees of China State Construction Engineering Corp work on a highway project in Wuhan, Hubei province, in January 2023. The country will also support capable private enterprises in leading national initiatives to make breakthroughs in major technologies and provide private enterprises with greater access to major national scientific research infrastructure. Two of high-temperature resistant vacuum tapes developed by Kejian have …

State-owned companies high on reform agenda
4 months, 4 weeks ago

State-owned companies high on reform agenda

China Daily  

An employee works on the production line of a State-owned textile company in Pingdingshan, Henan province. In response to increasing protectionism and global economic uncertainties, China has been allocating more resources to develop strategic emerging industries, with the goal of strengthening self-reliance in high-end technologies and fortifying the backbone of the national economy, said Xiao Shuguang, a professor specializing in …

China unveils inaugural list of most innovative central SOEs
4 months, 4 weeks ago

China unveils inaugural list of most innovative central SOEs

China Daily  

China starts construction of the No 1 power unit of its Xudapu Nuclear Power Plant in the country's northeastern province of Liaoning, Nov 15, 2023. The State Council's State-owned Assets Supervision and Administration Commission honored 26 SOEs on the 2023 list, including China Mobile, China National Nuclear Corporation, and Commercial Aircraft Corporation of China Ltd. At a recent seminar for …

Emerging industries key to SOEs
5 months, 1 week ago

Emerging industries key to SOEs

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA As China deepens reforms of its State-owned enterprises, centrally administered SOEs are set to allocate more resources to develop strategic emerging industries in order to support national efforts and enhance their competitiveness, market analysts and business executives said. Strategic emerging …

Emerging industries key to SOEs
5 months, 1 week ago

Emerging industries key to SOEs

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA As China deepens reforms of its State-owned enterprises, centrally administered SOEs are set to allocate more resources to develop strategic emerging industries in order to support national efforts and enhance their competitiveness, market analysts and business executives said. Strategic emerging …

SOEs likely to lift emerging industries
5 months, 3 weeks ago

SOEs likely to lift emerging industries

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA China's endeavors to expedite technological advancement and cultivate new quality productive forces will encourage its centrally administered State-owned enterprises to deploy more resources toward developing strategic emerging industries, said senior SOE executives. Central SOEs, including train manufacturer CRRC Corp, energy …

SOEs likely to lift emerging industries
5 months, 3 weeks ago

SOEs likely to lift emerging industries

China Daily  

Robot arms in use on the production line of a new energy vehicle maker in Changchun, Jilin province. XU CHANG/XINHUA China's endeavors to expedite technological advancement and cultivate new quality productive forces will encourage its centrally administered State-owned enterprises to deploy more resources toward developing strategic emerging industries, said senior SOE executives. Central SOEs, including train manufacturer CRRC Corp, energy …

SSE companies' modest valuations signal growth potential
6 months, 2 weeks ago

SSE companies' modest valuations signal growth potential

China Daily  

While the average price-to-earnings ratio of the companies listed at the Shanghai Stock Exchange came at 14.02 times by May 20, up 9 percent from that at the beginning of this year, the valuation of SSE companies is still at a lower level compared to their international corresponding trading venues, showing much room for growth for the SSE companies. The …

SSE companies' modest valuations signal growth potential
6 months, 2 weeks ago

SSE companies' modest valuations signal growth potential

China Daily  

While the average price-to-earnings ratio of the companies listed at the Shanghai Stock Exchange came at 14.02 times by May 20, up 9 percent from that at the beginning of this year, the valuation of SSE companies is still at a lower level compared to their international corresponding trading venues, showing much room for growth for the SSE companies. The …

Seres' Q1 net profit hits $30.34 million
7 months, 3 weeks ago

Seres' Q1 net profit hits $30.34 million

China Daily  

Seres showcases a vehicle platform at the Beijing auto show that runs from April 25 to May 4, 2024. Seres, which produces AITO-branded vehicles in collaboration with Huawei, saw its net profit reach 220 million yuan in the first quarter this year. From January to March this year, the company's operating revenue hit 26.56 billion yuan, up 421.76 percent year-on-year. …

SOEs' AI push may transform industries
10 months ago

SOEs' AI push may transform industries

China Daily  

Robots seen on the assembly line of automaker FAW Group in Changchun, Jilin province. The meeting emphasized that central SOEs should integrate the development of AI into their overall planning, actively promote industrial renewal, and accelerate the layout and development of the AI industry, information released by SASAC showed. "At the same time, with the development of AI technology, central …

China's central SOEs' profits reach 2.6 trillion yuan in 2023
11 months ago

China's central SOEs' profits reach 2.6 trillion yuan in 2023

China Daily  

A view of a shipyard run by Dalian Shipbuilding Industry Co Ltd, a subsidiary of State-owned China State Shipbuilding Corp Ltd, in Dalian, Liaoning province, in February. The total profits of China's centrally-administered State-owned enterprises amounted to 2.6 trillion yuan in 2023, while their operating revenue reached 39.8 trillion yuan, according to data released by the country's top state assets …

Reform Holdings to launch $14b fund
1 year, 2 months ago

Reform Holdings to launch $14b fund

China Daily  

An employee carries out maintenance work on trains at Wenzhounan Railway Station in Zhejiang province in June. China Reform Holdings Corp Ltd, a central State-owned enterprise specializing in promoting SOE reform, will establish a fund to support the development of emerging industries, with a target size of over 100 billion yuan. Wang Hongzhi, vice-chairman of SASAC, said, "SOEs are willing …

Almost all SZSE A-share companies projected to make profits
1 year, 8 months ago

Almost all SZSE A-share companies projected to make profits

China Daily  

A pedestrian passes an office building of the Shenzhen Stock Exchange on Nov 27, 2018. Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, earned operating revenue of 328.59 billion yuan and net profit of 30.73 billion yuan in 2022, an increase of 152 percent and 93 percent year-on-year, respectively. China's largest NEV maker BYD generated revenue …

Almost all SZSE A-share companies projected to make profits
1 year, 8 months ago

Almost all SZSE A-share companies projected to make profits

China Daily  

A pedestrian passes an office building of the Shenzhen Stock Exchange on Nov 27, 2018. Contemporary Amperex Technology Co Ltd, the world's largest electric vehicle battery maker, earned operating revenue of 328.59 billion yuan and net profit of 30.73 billion yuan in 2022, an increase of 152 percent and 93 percent year-on-year, respectively. China's largest NEV maker BYD generated revenue …

Central SOEs to raise investment in mfg
1 year, 10 months ago

Central SOEs to raise investment in mfg

China Daily  

An AI-enabled robot plays piano at a restaurant in Hangzhou, Zhejiang province. Strategic emerging fields, upgrade of traditional industries will get attention China will raise the proportion of new investment in the manufacturing industry to 13 percent this year through its centrally administrated State-owned enterprises, while lifting the share of strategic emerging industries layout by more than 2 percentage points, …

China central SOE net profits up 35.71% in three years
1 year, 10 months ago

China central SOE net profits up 35.71% in three years

China Daily  

Haiji One, Asia's first deep-water jacket designed and built independently by China National Offshore Oil Corp, is put into operation in the Pearl River Mouth Basin, more than 200 kilometers southeast of Shenzhen, Guangdong province, in October. BEIJING - Net profits at China's centrally administrated State-owned enterprises rose 35.71 percent to 1.9 trillion yuan in 2022 from that achieved in …

SOEs on rise after 3-year reforms
1 year, 10 months ago

SOEs on rise after 3-year reforms

China Daily  

Employees of China State Construction Engineering Corp work on a highway project in Wuhan, Hubei province, in January. China's State-owned enterprises are expected to post higher revenues and build more pioneers in modern industrial chains this year as the country has completed all the major tasks of its three-year action plan for the reform of SOEs, said market observers and …

China completes all major tasks from three-year action plan
1 year, 10 months ago

China completes all major tasks from three-year action plan

China Daily  

An employee of CNPC checks a gas facility in Tianjin. China has completed all the major tasks of its three-year action plan for the reform of State-owned enterprises, said the country's top State-owned assets regulator after participating in a key work meeting on Tuesday. Vice-Premier Liu He, also head of the State Council leading group for SOE reform, attended and …

Reforms helping keep SOEs in good shape
2 years, 5 months ago

Reforms helping keep SOEs in good shape

China Daily  

Employees from a subsidiary of China Shipbuilding Industry Corp install clean-energy equipment in Nantong, Jiangsu province. China's centrally administered State-owned enterprises have completed over 95 percent of the measures outlined in the country's three-year action plan for SOE reforms by the end of June, the country's top State-owned assets regulator said on Friday. For instance, major strides were made by …

Net profit of central SOEs grows 6.1% in H1
2 years, 5 months ago

Net profit of central SOEs grows 6.1% in H1

China Daily  

A containership owned by COSCO, a central SOE, is berthed at a port in Qinzhou, Guangxi Zhuang autonomous region, in March. The net profits of Chinese central State-owned enterprises hit 1.08 trillion yuan during the first half of this year, up 6.1 percent year-on-year, according to the State-owned Assets and Administration Commission of the State Council. In the first half …

China's central SOEs up investment in new infrastructure
2 years, 6 months ago

China's central SOEs up investment in new infrastructure

China Daily  

Technicians from China Mobile check a 5G base station in Tongling, Anhui province. BEIJING -- China's centrally administered State-owned enterprises are ramping up investment in new types of infrastructure to facilitate industrial transformation, data from the country's top State-asset regulator showed. In 2021, over 700 subsidiaries of nearly 70 central SOEs invested a total of 400 billion yuan in new …

Regulators to ramp up efforts to further support listed SOEs
2 years, 7 months ago

Regulators to ramp up efforts to further support listed SOEs

China Daily  

The booth of COFCO, an SOE owning 16 listed companies, is seen during an agro-expo in Beijing. The government will inject high-quality assets, such as profitable innovation and high-tech related businesses, into listed companies owned by centrally administered State-owned enterprises to further enrich the content of its Three-Year Action Plan for SOEs, and bolster the real economy, said the country's …

Regulators to ramp up efforts to further support listed SOEs
2 years, 7 months ago

Regulators to ramp up efforts to further support listed SOEs

China Daily  

The booth of COFCO, an SOE owning 16 listed companies, is seen during an agro-expo in Beijing. The government will inject high-quality assets, such as profitable innovation and high-tech related businesses, into listed companies owned by centrally administered State-owned enterprises to further enrich the content of its Three-Year Action Plan for SOEs, and bolster the real economy, said the country's …

Shandong SOEs witness rapid growth in Q1
2 years, 7 months ago

Shandong SOEs witness rapid growth in Q1

China Daily  

Shandong provincial State-owned enterprises spend more on research and development. Twenty-six Shandong provincial State-owned enterprises witnessed rapid growth in operating revenue and net profit in the first quarter of 2022, Shandong officials announced at a recent news conference. From January to March, the 26 Shandong SOEs achieved a total operating revenue of 461.67 billion yuan, up 6.4 percent year-on-year, and …

Shandong SOEs show steady growth in Jan-Sept
3 years, 1 month ago

Shandong SOEs show steady growth in Jan-Sept

China Daily  

State-owned enterprises in Shandong province performed well in the first three quarters of this year, said local authorities at a news conference held on Oct 26. By the end of September, their total assets amounted to 4.04 trillion yuan, up 8.4 percent and 28.1 percent respectively compared with the same period in 2020 and 2019. In the first three quarters, …

3-year action plan for SOEs set for 70% completion by end of this year
3 years, 10 months ago

3-year action plan for SOEs set for 70% completion by end of this year

China Daily  

China FAW Group employees work on an assembly line in Changchun, capital of Jilin province, in September. During the 13th Five-Year Plan period, the total profits and net profits of centrally controlled SOEs grew at an average annual rate of 8.8 percent and 9.3 percent, respectively. Centrally controlled SOEs played an exemplary role in the country's strategy, with the investment …

Profits of China's SOEs continue to rise
3 years, 11 months ago

Profits of China's SOEs continue to rise

China Daily  

A CNOOC employee uses a wireless communication device on an offshore drilling platform in the South China Sea. The SOEs saw their aggregate net profits after taxes go up by 47.2 percent year-on-year last month, while the operating revenue climbed 6 percent, according to data from the Ministry of Finance. In the first 11 months, the SOEs raked in 55.61 …

Chinese SOE profits bounce back in June
4 years, 5 months ago

Chinese SOE profits bounce back in June

China Daily  

Workers from China Construction Third Engineering Bureau Co Ltd conduct workplace safety training at a construction site in Urumqi, Northwest China's Xinjiang Uygur autonomous region, on June 23, 2020. BEIJING - Profits and revenues of China's State-owned and State-controlled enterprises posted this year's first year-on-year growth in June, the Ministry of Finance said on Thursday. Profits rose by 6 percent …

Reforms to fuel speedy growth of State firms
4 years, 5 months ago

Reforms to fuel speedy growth of State firms

China Daily  

SASAC planning more steps to ensure supply of basic goods and commodities China will push for "targeted integration" in the areas of grain storage, edible oil processing and maritime engineering within its centrally administered State-owned enterprises in the second half to improve their efficiency and the nation's grain security, according to the country's top State assets regulator. One of the …

Discover Related