MIIT: Policies incoming to stabilize, buoy industrial economy

The Ministry of Industry and Information Technology, China's top industry regulator, said on Thursday it will step up policy support to keep the industrial economy operating within a reasonable range in 2022.

Since the start of this year, industrial production and investment have shown a stable trend, with exports maintaining rapid growth, but the industrial economy is also facing new unstable factors and fresh uncertainties and challenges are still big, it was concluded at a meeting chaired by Xiao Yaqing, minister of industry and information technology.

More efforts will be made to implement the favorable policies unveiled at the recently concluded two sessions, and the ministry will also roll out more policies to stabilize growth to keep the industrial economy operating within a reasonable range in 2022.

Measures include supporting foreign-funded enterprises to increase investment in mid-to-high-end manufacturing in China and stepping up a push to help the nation's small and medium-sized enterprises.

MIIT also called for efforts to closely track the impact of the international situation and the COVID-19 pandemic on the industrial economy and strengthen cross-regional and cross-departmental coordination so as to ensure the stable operation of key industrial chains.

Intensified efforts will also be made to encourage the consumption of industrial products such as new energy vehicles and smart home appliances.