China's central SOEs spend more on R&D
China's centrally-administered state-owned enterprises (SOEs) spent more on research and development (R&D) in 2020 amid efforts to boost innovation-driven development, according to the country's state-asset regulator.
Their R&D input grew 11.3 percent year on year, while R&D intensity, the percentage of revenue that is reinvested in R&D, rose to 2.55 percent, data from the State-owned Assets Supervision and Administration Commission of the State Council showed.
The R&D intensity of central industrial enterprises reached 3 percent.
Revenue of the central SOEs went down 1.9 percent year on year in 2020, according to data from the Ministry of Finance.