China's central SOEs keep R&D spending above 1 trillion yuan for 4 straight years

BEIJING -- China's State-owned enterprises (SOEs) directly administered by the central government invested 1.1 trillion yuan (about $157.69 billion) in research and development (R&D) in 2025, official data showed on Wednesday.

The R&D spending has remained above 1 trillion yuan for four consecutive years, said Pang Xiaogang, deputy head of the State-owned Assets Supervision and Administration Commission of the State Council.

China's central SOEs have played an important role in advancing key technologies, fostering strategic emerging industries, and developing new quality productive forces.

In 2025, central SOEs invested 2.5 trillion yuan in strategic emerging industries, accounting for 41.8 percent of their total investment. Their investment and development have boosted the growth across upstream and downstream enterprises along industrial chains, providing strong support for China's economic and social development.

The data also showed that central SOEs posted a combined total profit of 2.5 trillion yuan in 2025. By the end of last year, their total assets had exceeded 95 trillion yuan.