Key facts
- China's State-owned Assets Supervision and Administration Commission (SASAC) issued the order.
- Central state-owned enterprises (SOEs) must double basic research spending by 2030.
- The goal is to foster long-term investment in sovereign technologies.
- SOEs are urged to become globally influential sources of original technologies.
China's State-owned Assets Supervision and Administration Commission (SASAC) has mandated that central state-owned enterprises (SOEs) must double their spending on basic research by the year 2030. This directive is part of Beijing's broader strategy to cultivate sovereign technologies and encourage its largest companies to engage in long-term investment. SASAC also encouraged these SOEs to establish themselves as globally influential origins of original technological advancements across a range of specified fields.