Investment of China’s central SOEs surpasses 6 trillion yuan in 2023

February 16, 2024
Updated 2024/02/16 at 8:15 PM
1 Min Read
(231223) -- TANGSHAN, Dec. 23, 2023 (Xinhua) -- This aerial photo taken on Dec. 23, 2023 shows a solar power plant in Tangshan City, north China's Hebei Province. In recent years, Tangshan City in Hebei Province encouraged the development of clean energy and promoted the construction of wind and solar power plants. By far, the installed capacity of clean energy in Tangshan reached 3.242 million kilowatts. (Xinhua/Yang Shiyao)

BEIJING, Feb. 16 (Xinhua) — China’s centrally administered state-owned enterprises (SOEs) expanded effective investment in 2023, official data showed.

The total investment of central SOEs stood at 6.2 trillion yuan (about 873 billion U.S. dollars) last year, up 6.9 percent year on year, according to the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

In 2023, fixed-asset investment (including real estate) of such companies went up 11.4 percent year on year to 5.09 trillion yuan, while their overseas investment registered a growth of 15.5 percent year on year.

During the period, investment of central SOEs in strategic emerging industries saw rapid growth of 32.1 percent to 2.18 trillion yuan, accounting for more than 35 percent of the total, according to the SASAC.

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