Current location:business >>
Industrial economy to get fresh boost
business1326People have gathered around
IntroductionEmployees work on the production line of an electronics company in Zixing, Hunan province. LI KE/FOR ...
Employees work on the production line of an electronics company in Zixing, Hunan province. LI KE/FOR CHINA DAILY
Implementation of policies for a wide range of consumption to accelerate
China's top industry regulator said on Wednesday it will accelerate the implementation of policies to promote consumption in industries like automobiles and home appliances.
It will also draft new measures to fuel growth in 10 key industries, including electronics and steel.
China has been striving to buoy the recovery of its sprawling industrial economy, which is picking up pace amid a steady rebound in domestic demand despite external uncertainties.
China's industrial output, a gauge of activity in manufacturing, mining and utilities, grew 4.4 percent year-on-year in June after a 3.5 percent rise in May, the National Bureau of Statistics said.
Zhao Zhiguo, spokesman and chief engineer at the Ministry of Industry and Information Technology, said despite difficulties like insufficient demand and declining profits, the fundamentals of China's industrial development and the trend of macroeconomic recovery and improvement have not changed.
The ministry will step up efforts to promote purchases of new energy vehicles, smart home appliances and green building materials in the countryside, and accelerate the development of medical equipment, aviation, yachts and other industries, Zhao said.
"We will partner with the China Development Bank to implement special loan programs to increase investment in manufacturing. Meanwhile, we will encourage companies to explore markets in countries and regions taking part in the Belt and Road Initiative and consolidate the export of industrial products."
Since the beginning of this year, China's industrial economy has maintained a recovery and positive development trend. In the first half, industrial output grew 3.8 percent year-on-year, 0.4 percentage point and 0.8 percentage point faster, respectively, compared to a year earlier and the first quarter of this year.
As the backbone of the manufacturing sector, the equipment manufacturing segment has maintained a steady development momentum. Automotive, electrical machinery and equipment manufacturing have maintained high profit growth, Zhao said.
NBS data showed the output of semiconductor equipment manufacturing jumped nearly 31 percent year-on-year, while that of electronic components and mechanical equipment manufacturing rose 46.5 percent in the first half of this year.
Ye Yindan, a researcher at the BOC Research Institute, said going forward, the industrial economy will maintain a good recovery momentum on the back of the sustained rebound in domestic demand, which is expected to offset the pressure of falling external demand and become the main force to drive production.
Meanwhile, the government is expected to maintain policy support, which will continuously restore the confidence of small and medium-sized enterprises, and improve market expectations, Ye said.
It is important to adjust policy priorities in a timely fashion based on economic recovery, Ye said, underlining support for the development of newly established enterprises in the form of tax incentives and financial support, and encouragement for State-owned enterprises to postpone the collection of rent from newly established enterprises.
Meanwhile, more efforts are needed to provide policy support and other kinds of assistance to manufacturers and bolster their digital and intelligent transformation, experts said.
Wei Qijia, head of industrial economy research at the State Information Center, said manufacturing is important to China's economic growth. It is necessary to combine the expansion of domestic demand with the stabilization of external demand, so as to overcome challenges in a better way.
Yang Yuanqing, chairman and CEO of Lenovo Group Ltd, the world's largest personal computer maker, said China's efforts to support the private sector and implement favorable industrial and financial policies are giving companies more confidence.
"We aim to grow our personal computer business at a growth rate that outpaces overall industry growth and maintain industry-leading profitability in the new fiscal year," Yang said.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Worldly Watch news portal”。http://belize.3elevenboutique.com/html-63a199845.html
Related articles
David Ortiz is humbled by being honored in New York again; this time for post
businessNEWTON, Mass. (AP) — Hall of Famer David Ortiz is committed to his post-career work like he was swin ...
【business】
Read moreMeghan Markle channels her late mother
businessMeghan Markle channeled the fashion prowess of Princess Diana as she recreated her late mother-in-la ...
【business】
Read moreFormer adviser to Nigel Farage who had four
businessEven in the nerve-shredding world of high stakes poker, it is an enormous amount of money to lose.Th ...
【business】
Read more
Popular articles
- Baby Reindeer's real
- Inside Jo Wood's eclectic off
- Tchouaméni a doubt for Real Madrid's UCL final
- Olympic champion Horigome falls in Olympic Qualifier Series
- Iran helicopter crash that killed President Raisi could reverberate across the Middle East
- Fans joke Eddie Howe's Newcastle assistant Jason Tindall 'needs to LEARN' from Kevin Nolan
Latest articles
LINKS
- MLB extends Draft League through 2030 season and announces plan to expand to eight teams
- M23 rebels seize key smartphone mineral mining town in eastern Congo
- Revealed: Serial dine
- Former Michigan House leader, wife plead not guilty to misusing political funds
- Average game time drops 1 minute to 2:36 in second season of MLB pitch clock
- Chongqing Youth Film Project unites global youth
- Imperial Chinese wine jar stolen from Belgian museum
- China flays overseas talk about 'overcapacity'
- Beijing gears up for Strawberry Music Festival during May Day holiday
- Answering readers' questions about the protest movement on US college campuses