China's central SOEs see investment rise in Jan-Feb

BEIJING -- China's centrally-administered state-owned enterprises (SOEs) have expanded effective investment in the first two months of 2023, said the country's top state-asset regulator.

During the January-February period, total investment by China's central SOEs, excluding real estate, rose 5.6 percent from a year ago to 350 billion yuan (about 50.89 billion U.S. dollars), according to the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

More than 900 key investment projects are currently either under construction or planned by central SOEs for 2023, covering major projects listed in the 14th Five-Year Plan and other national plans, the SASAC said.

In February, the SASAC issued a circular to encourage central SOEs to expand effective investment and optimize investment layout.

While clarifying the direction of expanding effective investment, the circular said central SOEs should focus on critical areas such as major national projects, infrastructure, and strengthening and supplementing industrial chains.