Source: CCTV.com
02-16-2009 17:35
Special Report: Global Financial CrisisThe next target for government assistance is likely to be light industry. The China Securities Journal reports anonymous sources have disclosed that the stimulus plan will help light industry grow by 10 percent annually by 2011.
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| The next target for government assistance is likely to be light industry. |
Under a plan submitted to the National Development and Reform Commission and the Ministry of Industry and Information Technology, the government will provide subsidies to the home appliance industry to encourage the development of energy-saving products.
The plan aims to boost the value of light industry exports by eight percent annually. Mergers and acquisitions will also be encouraged in order to upgrade the industry's structure.
The plan also targets the dairy industry which has been affected by the Sanlu milk powder contamination scandal.
The plan aims to create several large dairy companies with annual income of more than two billion yuan through acquisitions and restructuring.
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Editor:Qin Yongjing
