Source: CCTV.com
02-20-2009 13:36
Special Report: Global Financial CrisisSince January 14th, China's State Council has approved a series of plans to support the country's eight industries aims to revitalize industrial growth.
A series of stimulus plans covers auto, steel, shipbuilding, electronic and information, textile, machinery, light and petrochemical industry. The strong supporting action following massive tax cuts and subsidies to help a wide range of industries this year. The purpose is to reduce enterprises' burden, enhance overall competitiveness and spur industrial upgrade.
The revitalizing plans encourage enterprises to restructure and merger within the sectors, technology upgrade, explore new markets, expand exports and spur domestic demands through fiscal and tax means.
In a view of the sales and order performance in January and Februry, the stimulus plans, which have already been implemented such as home appliance subsidy, value-added tax reform and export tax rebates, have created positive impacts on those industries. Some enterprises have obviously shown a sign of recovery.
Stimulus plan on metal industry has got approval and will be issued quickly. Statistics show the annual output of these nine industries accounted for one third of GDP.
Click for more news in Biz China>>
Editor:Xiong Qu
