Beijing SOEs report total assets of 9.59 trillion yuan in 2024

The total assets of state-owned enterprises at all levels in Beijing, excluding financial institutions, reached 9.59 trillion yuan ($1.34 trillion) in 2024, according to a report released by the municipal government.

Data from the report shows that high-tech and high-end industries accounted for more than 35% of the total revenue of municipal SOEs.

SOEs across the city have actively fulfilled their responsibilities of public service. The city's bus corporation has introduced more than 350 innovative dedicated bus routes for school commuting, medical visits, and tourism, while the subway operator launched three new lines in 2024. 

In terms of social responsibilities, Beijing SOEs launched residential urban renewal projects that benefited more than 170,000 households. These enterprises also invested an 16.91 billion yuan in regions receiving targeted assistance and cooperation in 2024.

Municipal state-owned enterprises invested more than 60 billion yuan on research and development, with 14 enterprises making technology breakthroughs.

For industrial layout, two industrial clusters each worth over 100 billion yuan have been cultivated in the fields of next-generation information technology and intelligent connected vehicles.

Next, Beijing plans to develop strategic emerging industries, support high-tech and cutting-edge industries in strengthening and completing their industrial chains, and promote the development of sectors such as next-generation information technology, hydrogen energy, and healthcare and pharmaceuticals.

Meanwhile, it will study mechanisms for the development of data groups, strive to establish a national data exchange, and advance the capitalization of data assets. A mechanism for future industrial investment growth will be established, cultivating new business entities through internal entrepreneurship and investment incubation.