China unveils plan to shore up industrial economy

China will roll out a slew of measures to sustain the recovery momentum of the industrial economy, according to a circular released on Monday.

Industry, region and enterprise-specific measures will be adopted to secure the sound development of key industries, boost coordinated regional development, and inject vitality into industrial enterprises, per the document jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State-owned Assets Supervision and Administration Commission of the State Council.

Efforts will be made to tackle key issues facing the industrial economy, including accelerating the construction of major projects to generate increased physical gains, tapping into market potential to grow consumer demand, stabilizing exports of industrial products, improving the resilience and security of industrial and supply chains, and fostering new growth drivers, the circular said.

It also stressed the importance of efforts to guarantee sufficient supplies of energy and raw materials to maintain the stable operations of key industrial and supply chains.