China to further shore up industrial economy

Source: Xinhua / Updated: 2022-06-21

China's Ministry of Industry and Information Technology on Thursday pledged to strengthen support for the industrial economy despite mounting downward pressure, as part of efforts to stabilize the country's economic fundamentals.

The implementation of the country's package of measures, such as tax and fee cuts, should be accelerated to help enterprises tide over their difficulties as early as possible, said Tao Qing, a ministry official.

No effort will be spared to ensure unimpeded industrial chains, she said, adding that measures will be taken to strengthen the upstream and downstream matchmaking services of key industries, such as the automobile and integrated circuit industries, and to remove bottlenecks in key regions.

Tao also noted that the ministry will enhance its services for small and medium-sized enterprises, and coordinate with other government departments to create a better business environment.

Efforts will be made to expand consumption and effective investment in the industrial sector, she said.