China’s central SOEs deliver steady growth and accelerated tech breakthroughs in first half

A seminar for senior executives of central state-owned enterprises was hosted by the State-owned Assets Supervision and Administration Commission of the State Council on 21 and 22 July. The event reviewed operational performance and technological progress across central enterprises, while outlining key development and reform arrangements for the second half of the year.

Central SOEs have maintained stable and high-quality operational momentum throughout 2026. Official data released at the seminar shows these enterprises recorded a total profit of 1.4 trillion yuan in the first six months. Fixed asset investment expanded by 4.5 per cent year on year, underpinning steady industrial expansion and domestic economic growth.

Technological research and development initiatives have gathered pace across central enterprises. Total R&D spending rose 3.8 per cent year on year in the first half, driving continuous improvement in independent innovation capabilities. Fifty central enterprises secured 112 awards in the 2025 National Science and Technology Awards, reflecting strengthened industrial technological leadership.

A series of landmark technological achievements have been officially unveiled. The Long March 10B carrier rocket has achieved controllable first-stage recovery. The HH-200 commercial unmanned aerial transport system completed its maiden flight. New high-energy-density all-solid-state battery cell prototypes have been developed, alongside innovative high-efficiency fluidised bed hydrogen metallurgy technologies for industrial application.

Overall reform and development strategies will centre on the formulation of the 14th Five-Year Plan for state-owned assets and central enterprises, together with further deepening state-owned enterprise reforms. Systematic planning will support high-standard institutional upgrades and operational optimisation, laying solid foundations for the opening phase of the new planning cycle.

Stable economic performance will remain the core priority for central enterprises in the second half of 2026. All central SOEs will reinforce primary responsibilities for stabilising growth, sustaining the sound operational trend and promoting continuous improvement in operational quality.

Effective investment expansion will proceed in a structured manner. Major infrastructure and industrial projects that bolster long-term industrial competitiveness will be planned and launched in line with national strategic layouts. Investment structures will be further optimised, with resources channelled into emerging pillar industries and large-scale equipment upgrading and renovation programmes to foster new industrial growth momentum.