A China Mobile employee adjusts and tests 5G base station equipment at Tongling Railway Station in East China's Anhui Province. File Photo: cnsphoto

In the first half of the year, investment by China's central enterprises in strategic emerging industries increased by more than 40 percent year-on-year, China Media Group reported on Friday, citing data from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

From January to June this year, central enterprises completed cumulative investment in fixed assets of 1.4 trillion yuan ($196 billion), an increase of 18.6 percent year-on-year. The investment in strategic emerging industries accounted for more than one-fourth of the total investment, covering 15 key industries including new generation mobile communications, artificial intelligence, biotechnology and new materials.

Strategic emerging industries represent the direction of the new round of scientific and technological revolution and industrial change, and are the key areas for cultivating new kinetic energy for development and gaining new competitive advantages in the future.

In recent years, central enterprises have made positive progress in their layout and structural adjustment. From 2018 to 2022, the scale of investment in strategic emerging industries grew from 0.7 trillion yuan to 1.5 trillion yuan, and the proportion of the investment increased from 12.8 percent to 27 percent.

Zhang Yuzhuo, chairman of SASAC, said that the commission will focus on enhancing the resilience of key industrial chains such as integrated circuits and industrial software, further supporting the development of strategic emerging industries and future industries.

SASAC said that it will speed up efforts to enhance its ability to supervise industry. It will also form a package of support policies such as resource integration, scientific and technological innovation and financial support, as well as planning for the establishment of a special fund for industrial development, in a bid to come up with practical and effective solutions for the development of strategic emerging industries by state-owned central enterprises.

Global Times