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China unveils plan to shore up industrial economy

Around 30 percent leave their company within three years, according to the labor ministry. (AFP)
  • Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries
  • Efforts will be made to tap into market potential to grow consumer demand, stabilise exports of industrial products

Beijing, China: China will roll out a slew of measures to sustain the recovery momentum of its industrial economy, Chinese news agency, Xinhua, reported. 

Beijing, according to the agency report, will adopt industry, region and enterprise-specific measures to secure the sound development of key industries, boost coordinated regional development, and inject vitality into industrial enterprises, per the document jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State-owned Assets Supervision and Administration Commission of the State Council.

Efforts will be made to tackle key issues facing the industrial economy, including tapping into market potential to grow consumer demand, stabilising exports of industrial products, improving the resilience and security of industrial and supply chains, and fostering new growth drivers, the circular said.

It also stressed the importance of efforts to guarantee sufficient supplies of energy and raw materials to maintain the stable operations of key industrial and supply chains.