China's central SOEs invest big to aid epidemic-hit Hubei

Thirty-four of China's central State-owned enterprises (SOEs) signed contracts for 72 projects worth 327.73 billion yuan (about $46.1 billion) with Central China's Hubei province on June 3 to help it recover from the COVID-19 outbreak.

Among them are 48 projects with an investment of more than 1 billion yuan and nine projects with an investment of more than 10 billion yuan. This is according to a video teleconference jointly held by the State-owned Assets Supervision and Administration Commission of the State Council and the Hubei provincial government.

The projects will focus on fields such as new energy, ecological and environmental protection, intelligent manufacturing and infrastructure construction.

At present, among the 97 central SOEs in China, 56 have signed strategic cooperation framework agreements with Hubei, and nearly 80 have invested projects in the province.