Investment in research and development by China's centrally-administrated state-owned enterprises (SOEs) has kept growing over the past two years, exceeding one trillion yuan (139.3 billion U.S. dollars) annually in both 2023 and 2024, according to the latest official data released by the State-owned Assets Supervision and Administration Commission (SASAC) at the 7th China Enterprise Forum in Beijing.
Focusing on the development of new quality productive forces, the 7th China Enterprise Forum ran from Thursday to Friday. During the forum, the 2024 development reports of China's centrally-administered SOEs were made public, highlighting recent achievements in their development.
"The research and development investment by China's centrally-administered SOEs has exceeded one trillion yuan (139.3 billion U.S. dollars) annually for two consecutive years. Last year, their investment in strategic emerging industries grew by 32.1 percent year on year, with revenues surpassing 10 trillion yuan (about 1.4 trillion U.S. dollars). From January to September this year, the investment in these industries increased by 17.6 percent compared to the same period last year, accounting for nearly 40 percent of the centrally-administered SOEs' total investment. These investments have played a key role in driving the development of new quality productive forces," said Tan Zuojun, deputy director of SASAC, in addressing the forum.
Next, the SASAC will lead the centrally-administered SOEs to focus on developing the industrial chain related to new quality productive forces, and intensify efforts to promote the transformation and industrial application of enterprises' technological achievements, Tan said.
According to the SASAC, the centrally-administered SOEs invested 1.4 trillion yuan (about 195 billion U.S. dollars) in strategic emerging industries during the first three quarters of 2024. In addition, these state-owned enterprises have made a series of important achievements in key areas such as new-generation information technology, artificial intelligence and new-energy vehicles.
China's centrally-administered state-run firms' R and D investment keeps growing: authorities
To meet the timeline of starting independent customs operations by the end of 2025, the government of south China's Hainan province issued a series of regulations to stipulate import and export management of Free Trade Port (FTP), with two major documents on environmental safety and medicine import put into effect recently.
To further explain the effects and scope of the two documents, the local government held press conferences on Monday and Tuesday.
The "Several Provisions on the Management of Entry Environmental Safety Access in the Hainan Free Trade Port" took effect on Wednesday, which clarified the scopes and responsibilities regarding potential environmental issues of vessels and import products.
"The document regulates the access management of special items such as hazardous waste, remanufactured products, carry-on items of entry personnel, and radioactive materials. Meanwhile, it clarifies that the storage sites for transit goods should meet environmental safety management requirements, to avoid environmental pollution," said Di Weijie, deputy director of the Department of Ecology and Environment of Hainan Province.
In addition, the administrative rule on zero-tariff import of medicines and medical devices in Hainan Free Trade Port was put into effect on Tuesday, stipulating that before Hainan FTP starts independent customs operations, medical institutions, higher medical education institutions, and pharmaceutical research institutes registered in the Hainan's Boao Lecheng Pilot Zone with independent legal status and approved eligibility can import designated pharmaceuticals and medical devices under the zero-tariff policy.
"The scope [of medicines and medical devices imported under 'zero-tariff' policy] consists of two categories: imported pharmaceuticals and medical devices already approved for registration in China, and specially licensed pharmaceuticals and medical devices for the Boao Lecheng Pilot Zone," said Jia Ning, director of Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration, during the press conference.
With policy supports and related efforts like the Ever Lasting International Innovation Medicine Exhibition held in the Boao Lecheng Pilot Zone, medicine and health care is expected to be a new pillar industry for Hainan.
New regulations clarify environment, medicine import issues in Hainan Free Trade Port
