China launches 17 new consortiums to propel sci-tech innovation

China's centrally administered state-owned enterprises (SOEs) have initiated the establishment of 17 new innovation consortiums to promote science and technology innovation, according to the country's top state asset regulator.

These innovation consortiums will cover industrial software, computing power networks, new energy and advanced materials, among others, said by the State-owned Assets Supervision and Administration Commission of the State Council.