China to support industrial recovery with targeted measures

China’s Ministry of Industry and Information Technology said that Beijing will take further measures to promote the country’s industrial development next year on the basis of the current steady recovery in the sector.

“China will strengthen the policy of supporting the stable development of basic industries, push scientific and technological innovation, expand demand, and help reduce the cost of industrial enterprises,” Tao Qing, head of the ministry’s Operation, Monitoring, and Coordination Department, said.

“Since the beginning of this year, the industrial economy has shown a steady recovery and good momentum amid volatility, with policy efforts starting to yield results as well as consolidating the foundations of the economy,” he added.

Xie Cun, head of the ministry’s Information and Communication Development Department, said China aims to accelerate the construction of fifth-generation and gigabit optical networks and continue to promote innovative breakthroughs in core hardware.