Source: CCTV.com

02-05-2009 11:02

Like the textile industry, China's machinery manufacturers are also facing the task of upgrading the products. As Qi Tianxing finds out, many leading machinery manufacturers are looking forward to the government measures.

The plan highlighted the importance of innovation. Machinery manufacturers believed that the plan will help them upgrade their products.

Ren Qinxin, general manager of CITIC Heavy Industry, says, "amid the global financial crisis, the government is encouraging companies to adjust industrial structures, as well as to use homemade machinery. All of these measures will definitely help companies to upgrade their products."

Like the textile industry, China's machinery manufacturers are also facing the task of upgrading the products.

The plan includes a range of measures to support firms' innovation, such as giving them more freedom to set up technology research programmes.

Ren Qinxin says, "the plan includes lots of financial policies that benefit machinery industry. For example, to support high-tech development, raise the export tax rebate and invest more in mergers and acquisition. These measures will raise companies' competitiveness."

Machinery manufacturers say the main problem they face is that many parts are dependent on export.

Xiang Wenbo, president of Sany Heavy Industry, says, "we hope that the equipment importing policies will be further regulated, allowing domestic companies to enjoy the same treatment as foreign companies in Chinese market. For example, it is unreasonable to tax on imported parts, while the tax of importing whole sets of equipment has been exempted?"

Machinery companies say the industry is facing a good opportunity to restructure amid the financial crisis, and the newly-approved plans will expand their market.

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Editor:Qin Yongjing