Centrally administered SOEs record total profits of over $200b in H1

China's centrally administered State-owned enterprises reported total profits of 1.4 trillion yuan ($206.77 billion) in the first half of 2026, according to information released by the State-owned Assets Supervision and Administration Commission of the State Council on Wednesday.

Following a meeting held in Beijing from Tuesday to Wednesday, the SASAC said in a statement that fixed-asset investment by central SOEs rose 4.5 percent year-on-year during the January-June period.

Central SOEs also made faster progress in science and technology innovation. Their research and development spending increased 3.8 percent year-on-year in the first six months.

In the second half, central SOEs will accelerate the intelligent, green and integrated upgrading of traditional industries, deepen digital transformation and advance the "AI Plus" initiative across more strategic applications, said the statement.

They will also strengthen industrial competitiveness by speeding up green upgrades in the steel, nonferrous metals, building materials, petrochemical and chemical sectors, while expanding the application of advanced green technologies.