| 1:55:09 PM - Thu, Jun 23rd 2022 |
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Chinese state-owned enterprises invest in new infrastructure
China's State-owned EnterprisesSLOTXOSupervision and Administration (SASAC) said state-run enterprises by the central government are increasing investment in new infrastructure. to facilitate industrial transformation
By 2021, more than 700 companies affiliated with nearly 70 central government-run enterprises have invested more than 400 billion yuan (about $59 billion) in new infrastructure in new infrastructure.
From 2021 to 2025, these companies plan to invest more than 1,300 new infrastructure projects with a total investment value of over 10 trillion yuan.
SASAC said federally-managed state-owned enterprises posted a 5.6 percent year-over-year net profit in the first four months of this year.
Xinhua news agency reported that New infrastructure means digital, intelligent and cutting-edge infrastructure, including projects related to 5G networks, artificial intelligence (AI), and the Internet of Things (IoT).
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