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China’s central state-owned enterprises invest more in R&D, 2020

China’s central state-owned enterprises invest more in R&D, 2020

China’s State Assets Regulatory Agency stated that Chinese centrally managed state-owned enterprises (SOE) have invested more R&D funds in 2020 due to their efforts to promote innovation-driven development.

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According to figures from the State-owned Assets Supervision and Administration Commission of the State Council, their R&D investment increased by 11.3% year-on-year, while R&D intensity, that is, the proportion of income reinvested in R&D, rose to 2.55%.

The R&D intensity of central industrial enterprises reached 3%.

According to data from the Ministry of Finance, by 2020, the revenue of central state-owned enterprises will fall by 1.9% year-on-year.

Central state-owned enterprises have played a greater role in leading innovation efforts and actions to improve industry and supply chains. They have established more than 400 innovation platforms to promote the coordination and development of SMEs.

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Written by Hüseyin Ali

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