China Funding Upgrading of Manufacturing Sector

China Funding Upgrading of Manufacturing Sector

China Funding Upgrading of Manufacturing Sector

China will support 10 Key manufacturing projects in reconstructing and upgrading the sector until Y 2018, a notice by the National Development and Reform Commission (NDRC) said Wednesday.

The projects will aim to keep growth of value-added industrial output in the manufacturing industry above 7%.

Corporate investment in upgrades should average 15% annually after Y 2018, the notice said.

To drive a more advanced, smart, greener and service-oriented manufacturing sector, the government will support enterprises with a propensity for independent innovation and for using resources efficiently.

China’s value-added industrial output grew 6.1% Y-Y in Y 2015, lower than the 8.3% growth in Y 2014. Manufacturing output expanded 7% in Y 2015, 2.4 percentage points lower than the previous year.

Stay tuned…

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