Eighteen of China's centrally administered state-owned enterprises (SOEs) signed agreements in Beijing on Friday to invest about 170 billion yuan (about $24.7 billion) in 92 projects in the Xinjiang Uygur autonomous region and the Xinjiang Production and Construction Corps, reported Xinjiang Daily.

The agreements span sectors such as energy, mineral resources, computing power, and equipment manufacturing, the report said.

The participating enterprises include State Power Investment Corporation (SPIC), China Huaneng Group, and China Huadian Corporation, with cooperation reaching new levels in scale and depth.

Among the key deals, SPIC signed a letter of intent with the local government to expand collaboration in clean energy development and the construction of a new-type power system.

Wen Shugang, chairman of China Huaneng, said that during the 15th Five-Year Plan period (2026–2030), the company intends to align closely with Xinjiang's development blueprint, increase investment, and accelerate project construction to take a leading role in driving industrial growth in the region.

China Huadian also pledged to deepen cooperation in building a national strategic energy resource base, advancing clean energy utilization, and fostering emerging industries, while speeding up the establishment of a modern energy and power system.

Following the signing ceremony, authorities from Xinjiang and the Xinjiang Production and Construction Corps held a symposium with the State-owned Assets Supervision and Administration Commission of the State Council on promoting industrial development in Xinjiang through central SOEs in 2026.

Official data shows that during the 14th Five-Year Plan period (2021–2025), central SOEs generated 6.2 trillion yuan in revenue in Xinjiang and completed a cumulative investment of 1.1 trillion yuan. In 2025 alone, investment reached 265.7 billion yuan, creating jobs for more than 107,000 people, according to Xinhua News Agency.