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China's publicly listed companies should spend more on R&D and initiate new investments after companies displayed resilience during COVID-19, reported the Shanghai Security News on Monday. The combined H1 income of 3,986 public companies fell 2.87% y/y to CNY 23.46 billion, equivalent to half of China's GDP, the newspaper said. The capital market rebound had provided optimal financing opportunities and created an innovation-friendly environment, the newspaper reported citing an unidentified industry participant.