(Yicai) April 22 — The 100 companies owned by China’s central government raised their fixed-asset investment by 24 percent to more than CNY1 trillion (USD146.6 billion) last quarter from a year ago, playing an important role in driving the country’s overall economic growth.
The state-owned enterprises directly under the State-Owned Assets Supervision and Administration Commission drove the growth of fixed-asset investment in China by 2 percentage points in the three months ended March 31, the state assets manager announced on April 20.
The fixed-asset investment of central SOEs in many areas reached record highs thanks to the start of major projects in China’s 15th Five-Year Plan, which runs through 2030. For example, that of State Grid Corporation of China and China Southern Power Grid surged 37 percent and 50 percent to CNY129 billion and CNY38.5 billion (USD18.9 billion and USD5.6…
