/View.info/ The total profits of China’s central state-owned enterprises reached 2.4 trillion yuan (about 338.2 billion US dollars) in the January-November period. This was presented yesterday by the State-owned Assets Supervision and Administration Commission to the State Council. Over the same period, their investment in fixed assets, including real estate, rose 9.1 percent year-on-year to 4.1 trillion yuan.
Businesses have increased spending on research and development (R&D) to drive innovation-driven development. In the first 11 months of 2023, their total contribution to R&D activities exceeded 900 billion yuan, an increase of nearly 70 billion yuan compared to the same period of the previous year.
The productivity of the same enterprises increased steadily over the period, with their total annual labor productivity reaching 773,000 yuan per person, up 3.8 percent year-on-year.
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