China will make efforts from both supply and demand sides to promote stable production growth and structural optimization and upgrading in key industries
CCTV News: Today, the Ministry of Industry and Information Technology held a press conference on stable growth in key industries in Beijing. The conference covered four key industries: machinery, automotive, power, and electronic information manufacturing. The person in charge stated that from the specific content of the plan, China will make efforts from both supply and demand sides to promote stable production growth and structural optimization and upgrading in key industries.
Tao Qing, Director of the Operation Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology, stated that the key industries covered by the stable growth plan this time are wide, including major manufacturing industries such as steel, non-ferrous metals, petrochemical, chemical, building materials, machinery, automobiles, power equipment, light industry, and electronic information manufacturing.
Tao Qing, Director of the Operation Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology: The total value added of industries above designated size accounts for about 70%. Stabilizing these key industries basically stabilizes the industrial economy.
Tao Qing stated that he will focus on restoring and expanding demand in key areas, promoting joint efforts in investment, consumption, and exports, and consolidating the foundation for stable industrial growth. In terms of stimulating domestic demand potential, the next step is to organize new energy vehicles, smart home appliances, and green building materials to go to rural areas, accelerate the promotion and application of innovative products such as industrial mother machines, high-end medical equipment, and robots, and tap into the consumption potential of wind power, photovoltaic and other fields. In terms of expanding the international market, encourage enterprises to benchmark international demand, increase research and development efforts, produce marketable products, guide the expansion of markets in key countries and countries and regions along the "the Belt and Road", and consolidate the export of industrial products.
Tao Qing, Director of the Operation Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology: Overall, China's economy has tremendous development resilience and potential, and the long-term positive fundamentals have not changed. We have the determination and ability to seize the critical period of current economic transformation and upgrading, and promote high-quality industrial development.