China has officially released its inaugural list of the most innovative centrally administered state-owned enterprises (SOEs) for 2023, signaling a strong commitment to advancing science and technology within the nation.
The State-owned Assets Supervision and Administration Commission (SASAC) of the State Council honored 26 SOEs this year, including industry giants like China Mobile, China National Nuclear Corporation, and the Commercial Aircraft Corporation of China, Ltd. These companies primarily operate within the energy, telecommunications, and aerospace sectors, underscoring China's focus on pivotal industries.
Among the honorees, China Mobile stands out for its substantial investment in research and development. Last year, the telecom leader invested approximately 28.7 billion yuan (about $4 billion) in R&D, marking a nearly 60 percent increase from the previous year. This surge highlights the company's dedication to pioneering advancements in frontier technologies.
In addition to recognizing these leading SOEs, SASAC has been proactive in fostering innovation across the board. Last month alone, central SOEs established 17 new innovation consortiums addressing critical areas such as industrial software, computing power networks, new energy, and advanced materials. This initiative has expanded the total number of central SOE innovation consortiums to 24, further embedding these enterprises into the national innovation ecosystem.
Zhang Yuzhuo, chairman of SASAC, emphasized the importance of integrating central SOEs into the broader national innovation system. He highlighted the necessity of establishing a comprehensive sci-tech innovation assessment system and nurturing new growth drivers to sustain technological ingenuity from fundamental research to industrial applications.
These efforts are part of China's broader strategy to enhance the innovation capabilities of its SOEs. With over 1 trillion yuan invested in R&D during 2022 and 2023, these enterprises have made significant breakthroughs in key technologies, solidifying their position as core drivers of economic and technological progress.
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China unveils inaugural list of most innovative central SOEs
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