China's central SOEs' investment in strategic emerging industries tops 1 trln yuan in first 7 months

Investment towards China's strategic emerging industries by centrally-administered state-owned enterprises (SOEs) has surpassed 1 trillion yuan (about 140.87 billion U.S. dollars) in the first seven months of the year, official data showed Thursday.

The investment during the period jumped 24 percent year on year, accounting for 38 percent of central SOEs' total investment, data from the State-owned Assets Supervision and Administration Commission (SASAC) showed.

During the period, the central SOEs mainly made the investment in areas such as new-generation information technology, artificial intelligence, aerospace, new energy, new materials, high-end equipment, biomedicine and quantum technology, the SASAC said.

By increasing investment in these areas, central SOEs are promoting the optimization and upgrading of industrial structure and cultivating new economic growth points, it added.

The SASAC will continue to improve the cultivation mechanism for emerging industries, optimize security and support policies, promote the implementation of a number of major achievements, and continue to spawn new industries, new models, and new driving forces, an official of the commission said.