Listed companies achieved high-quality development with overall performance increasing steadily in 2020, People's Daily reported on Monday.

The main board companies on the Shanghai Stock Exchange recorded an operating income of 38.19 trillion yuan ($5.91 trillion) in the past year, with over 90 percent enterprises making profits.

The companies in Shenzhen Stock Exchange registered an operating income of 14.8 trillion yuan, up 8.1 percent year-on-year last year.

The performances of innovative companies grew rapidly with listed companies on the Science and Technology Innovation Board or the STAR Market making 50.09 billion yuan net profit for parent enterprises, up 59.13 percent year-on-year.

In the same period, the net profit of listed companies on the second board or ChiNext witnessed an increase of 43 percent year-on-year, the fastest growth since 2010.

Investment in research and development has increased continuously with entity companies on main board of Shanghai Stock Exchange investing 540 billion yuan in R&D in 2020, up 16 percent year-on-year.

Non-financial enterprises on Shenzhen Stock Exchange invested a total of 444.48 billion yuan in R&D in the past year, up 10.8 percent on a yearly basis.

The annual reports of the listed companies on stock markets in Shanghai and Shenzhen reflected the overall status of China's economic development despite COVID-19 and the high-quality development of these companies in 2020.