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SOEs Q1 FAI Up 10.4% Y/Y

CHINA PRESS

Chinese SOE fixed-asset investment reached CNY2.5 trillion in Q1, up 10.4% y/y , 5.9 pp higher than the national level due to strong investment in strategic emerging industries, according to Hu Chi, a researcher at the State-owned Assets Supervision and Administration Commission. SOEs investing in fixed assets marks the first step to achieve the goal of 35% of revenue from strategic emerging industries by 2025, Hu added. SOEs in culture and tourism sectors recovered rapidly in Q1 as the macro-economy stabilised, said Wu Gangliang, a researcher at the China Enterprise Reform and Development Research Association.

MNI Beijing Bureau | lewis.porylo@marketnews.com

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