271 trillion won invested in state-owned enterprises in China's 'strategic emerging industry'

It was reported that Chinese state-owned companies invested 270 trillion won in strategic emerging industries such as mobile, AI, and new energy vehicles between January and September this year.

The People's Daily, the official newspaper of the Communist Party of China, said central government-managed state-owned companies' investment in strategic emerging industries rose 17.6% year-on-year to 1.4 trillion yuan (about 271 trillion won) in the first three quarters of this year.

Chinese authorities explained that as of the end of August this year, there were more than 515,000 companies related to strategic emerging industries, accounting for 8.55% of Chinese manufacturing companies (6.03 million in total).