China: State-owned companies invested $235.6 billion, up 13% ‎in 5 months

Chinese state-owned and centrally-run enterprises increased their effective investment in the first five months of this year, official data showed Monday.

According to the “Xinhua” agency, the State-owned Assets Supervision and Management Committee of the State Council stated that from January to May 2023, central state-owned enterprises invested 1.7 trillion yuan (equivalent to 235.6 billion dollars), an increase of 12.5 percent compared to the same period from last year.

The committee noted that the total investment of those companies in fixed assets, excluding real estate, rose 20.4 percent year on year, to record one trillion yuan during the first five months of the year.

The committee indicated that the total investment of state-owned enterprises in May alone amounted to about 380 billion yuan, an increase of 19.6 percent compared to last year.