Briefly

Central SOE R&D investment rises

China's State-owned enterprises directly administered by the central government have intensified efforts to achieve breakthroughs in key technologies, with their investment in research and development rising 3.8 percent year-on-year in the first half. According to the State-owned Assets Supervision and Administration Commission of the State Council, China's State-asset regulator, the rise in R&D spending came as central SOEs continued their efforts to make changes and improve their industrial layout and structure while deepening reforms.

Fiscal revenue up 4.7% in first half

China's fiscal revenue expanded 4.7 percent year-on-year to 12.1 trillion yuan ($1.78 trillion) in the first half, data from the Ministry of Finance showed. The pace of growth continued to pick up from 4 percent in the first five months, indicating steady improvement in fiscal revenue performance.

XINHUA-CHINA DAILY