BUSINESS China to roll out measures to stabilize manufacturing investment

BUSINESS

China to roll out measures to stabilize manufacturing investment

Xinhua

18:31, August 17, 2021

A woman works at a factory of the Harbin Dongan Automotive Engine Manufacturing Co., Ltd in Harbin, capital of Northeast China's Heilongjiang Province, March 10, 2020. (File photo: Xinhua)

BEIJING, Aug. 17 (Xinhua) -- China will adopt multiple measures to stabilize manufacturing investment, the country's top economic planner said Tuesday.

The country will boost green investment by encouraging investment in technological upgrading and stepping up policy support for the traditional manufacturing industry to reduce carbon emissions, said Meng Wei, spokesperson for the National Development and Reform Commission.

The country will also support investment in advanced manufacturing and improving weak links in the industrial and supply chain, Meng added.

Comprehensive measures will be taken to ease the upward pressure on commodity prices and strengthen investment incentives for middle and downstream manufacturing enterprises while implementing various cost reduction policies, the spokesperson said.

China's fixed-asset investment amounted to 30.25 trillion yuan (about 4.67 trillion U.S. dollars), up 10.3 percent year on year in the first seven months of this year, data from the National Bureau of Statistics showed.

Specifically, investment in manufacturing gained 17.3 percent year on year during the period, the data showed.

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