Current location:opinions >>
Industrial economy to get fresh boost
opinions22People 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.“Planet Pulse news portal”。http://paraguay.izmirambar.net/article-18c799935.html
Related articles
Here comes the char
opinionsTom Holland enjoyed a post-show cup of tea and proudly waved to fans as he left the Duke of York's T ...
【opinions】
Read moreXi Meets Russian Foreign Minister
opinionsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【opinions】
Read moreDAILY MAIL COMMENT: Will Rayner now tell the whole truth?
opinionsAt long last, Greater Manchester Police deign to investigate allegations that Angela Rayner breached ...
【opinions】
Read more
Popular articles
- French sports minister calls for sanctions after Monaco player tapes over anti
- President's trip paves way for more outcomes
- Girl, five, dies in horror crash with a lorry while riding her bike outside the school gates
- News Analysis: Türkiye's economic woes far from over amid tumbling currency, looming debt
- California congressman urges closer consultation with tribes on offshore wind
- Living in Downing Street was like being a prisoner in a soulless cage
Latest articles
Benedict Cumberbatch looks suave as he joins his co
Let fruits of internet development benefit more countries, people
Qiongzhou Strait faced peak of return travel during Spring Festival migration
Dramatic moment carpenter, 25, who stabbed four people then murdered a Good Samaritan is arrested
China's first intelligent offshore drilling platform installed
BRI a path of happiness benefiting world
LINKS
- Robin Goodfellow's racing tips: Best bets for Friday, April 12
- Queen Camilla's tight
- I endured aggressive chemo and said goodbye to my family after being given just 15 months to live
- Watch: Nicola Willis reveals economy has slipped further this year
- Florida lawmakers pass bill to ban social media for children under 16
- Ant and Dec discuss their emotional farewell to Saturday Night Takeaway after 22 years
- Core blimey: Slow
- Fitzwilliam Corrie
- Ministry of Health calls staff meetings as job cuts loom
- Rustle these up with Rosemary: My traditional steak and kidney pie