HK Stock Market Move | CHONGQING M&E (02722) rises more than 4%, Chongqing plans to support state-owned enterprises in technology innovation, including the construction of high-level innovation platforms for companies like the company.

CHONGQING M&E (02722) rose more than 4%, closing at a 4% increase of 2.34 Hong Kong dollars, with a turnover of 8.3565 million Hong Kong dollars as of the time of publication. In terms of news, recently, the Chongqing State-owned Assets Supervision and Administration Commission issued the "Work Plan to Further Promote the Enhancement of Technological Innovation Capabilities of Municipal State-owned Enterprises", systematically deploying "seven batches" of special tasks and iterating and upgrading technological innovation initiatives of municipal state-owned enterprises. The "Plan" specifies that by 2026, the growth rate of R&D investment in municipal state-owned enterprises in Chongqing will reach more than 8%; strive to break through more than 30 key core technologies in key areas such as intelligent connected new energy vehicles, industrial mother machines; and promote the proportion of the output value of strategic emerging industries owned by municipal state-owned enterprises in the total industrial output value to exceed 35%. At the same time, more than 100 "four-chain" integration projects and around 70 digitalization and "AI+" application scenarios will be implemented in a rolling manner to strengthen the support role of technological innovation in industrial upgrading. The "Plan" plans seven key measures, including improving the ability level of differentiated and characteristic innovation platform subjects. It will support enterprises like CHONGQING M&E Group to build high-level innovation platforms, promote more platforms to be included in the national and municipal innovation platform "white list", and encourage municipal state-owned enterprises to jointly form innovation alliances with universities, research institutes, etc. By the end of 2026, it aims to add 3 new platforms to the "white list", establish 3 new industrial innovation complexes, achieve a breakthrough in national high-level innovation platforms, and ensure that the growth rate of total R&D investment is not less than 8%.