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Central state-owned enterprises (SOEs) completed CNY1.05 trillion in fixed-asset investment in the first quarter, up 23.5% year on year and contributing 2 percentage points to overall fixed-asset investment growth, the Securities Daily reported. Zhang Yuzhuo, Director of the State-owned Assets Supervision and Administration Commission (SASAC), said SOEs generated CNY2.7 trillion in added value, up about 3% year on year, with investment in strategic emerging industries up 19.5% from a year earlier. Looking ahead, Zhang said state-owned firms will intensify efforts to develop new quality productive forces, stay rooted in the real economy, advance technological innovation and strengthen research and development.

China must improve energy security in order to build a strong energy nation, Premier Li Qiang said at a State Council study session. Officials must fully tap the potential of renewable energy and continuously improve the clean and efficient utilisation of fossil fuels and accelerate carbon-reduction upgrades of existing coal-fired power units, Li said. China needs to quicken the construction of new-type power grids, increase investment in transmission channels, strengthen backbone networks and improve energy storage and charging facilities, he added.