Chinese SOEs invest over $150 bln in R&D last year: official

(ECNS) -- Chinese state-owned enterprises invested over 1 trillion yuan ( about $150 billion) in research and development in 2022, said Zhang Yuzhuo, director of the State-owned Assets Supervision and Administration Commission of the State Council on Thursday.

Over the past 10 years, the SOE's investment fund in R&D has continuously increased, registering 6.2 trillion yuan, which is more than one-third of the national total, Zhang added.

A total of 764 national-level R&D platforms and 91 key national laboratories have been established.

"The SOEs have employed 1.045 million full-time R&D personnel, accounting for one-fifth of the country's total, and 231 academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, accounting for one-seventh of China's total," he said.

The technology breakthrough cover manned spaceflight, lunar exploration and space probes, deep sea and deep earth exploration, satellite navigation, nuclear power, etc, he added.

Last year, China's State-owned enterprises achieved 39.6 trillion yuan in business turnover and 2.6 trillion yuan in profits.