Fixed-asset investment of central SOEs up 5.6 pct in first 11 months of 2022

The fixed-asset investment of China's centrally administrated state-owned enterprises (SOEs) increased 5.6 percent year on year to 3.6 trillion yuan (about 531.74 billion U.S. dollars) in the first 11 months of

2022, data from the country's SOE regulator showed.

The investment structure of central SOEs was optimized last year, said Peng Huagang, spokesperson for the State-owned Assets Supervision and Administration Commission.

Central SOEs' investment in strategic emerging industries remained at a high level, accounting for more than 20 percent of the total. Investment in new-energy vehicles, communications and electronics manufacturing maintained double-digit growth, Peng said.

Central SOEs will continue to increase investment in sectors such as cloud computing, broadband infrastructure network, 5G and 6G, industrial Internet, high-end equipment, new-generation information technology, and new materials, he said.

Revenues of central SOEs increased 8.3 percent year on year in 2022, while profits gained 5.5 percent from a year ago.