ZCZC
BCN-12
CHINA-ECONOMY-MANUFACTURING
China to expand advanced manufacturing, domestic market: official
BEIJING, Dec. 23, 2018 (BSS/Xinhua) – China’s top economic planner has
pledged to strengthen the advanced manufacturing sector and foster stronger
domestic market amid efforts to stabilize economic growth.
He Lifeng, head of the National Development and Reform Commission, said
China will narrow the gap in major technical equipment capabilities to tap
into the huge domestic market potentials in this sector.
Efforts will also be made to accelerate upgrading of traditional industries
to make them more digitalized, connected and smart, which will also unleash
gigantic domestic market potentials, he said.
China will also speed up development of world-class technological
innovation centers to foster new growth drivers, and expand investment in
infrastructure related to key areas such as poverty relief, agriculture and
energy to stimulate demand, he said.
His remarks came as a key economic meeting of China’s leadership put high-
quality manufacturing development high on the work agenda of 2019.
To shore up the real economy especially advanced manufacturing, policies
will focus on enhancing fair competition and vitality of market entities
while lowering corporate costs.
“One of the primary tasks is to offer the private sector substantial
support,” he said, referring to measures including addressing financing
difficulties.
China will push for significant improvement in business environment across
the nation by improving its environment rating scheme with Chinese
characteristics more rapidly, he said.
The country will improve foreign investment environment across the board
and clear up restrictive regulations on foreign investment that go beyond the
official negative list, according to He.
BSS/XINHUA/HR/1220