Emerging industries key to SOEs
China DailyRobot 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 industries in China include sectors such as energy-saving and environmental protection, next-generation information technology, biotechnology, high-end equipment manufacturing, new energy, advanced materials and electric vehicles, according to the State-owned Assets Supervision and Administration Commission of the State Council, or SASAC. China Oil & Gas Pipeline Network Corp, or PipeChina, pledged that it will further intensify research and development to acquire technologies for strategic emerging industries, accelerate the development of new energy storage businesses, and advance research on hydrogen blending in existing natural gas pipelines, high-pressure large-diameter pure hydrogen and carbon dioxide pipeline transportation solutions. In addition to showcasing seven new energy locomotives to offer both home and global markets new solutions for low-carbon development in rail transport in Beijing in June, Chinese train manufacturer CRRC Corp recently unveiled the world's first commercially operational metro train built with carbon fiber materials in Qingdao, Shandong province, marking a significant leap in eco-friendly urban transportation technology.