Metals News
Steel, Automobile and Petrochemical Industry will Revitalize Development Plan
data analysis
Dec 7,2009

BEIJING, Nov. 27 -- State Council held meeting yesterday to study and deploy policies and measures to solve difficulties of enterprise and promote economic development, and to raise to pay close attention to the revitalized development of iron and steel, automobile, petrochemical and other key industries; to increase important supplies, and support of country resources deposit and commercial resources deposit; at the same time to expand the scope of the use of the unemployment insurance fund to stabilize employment, and so on.

    It pointed out that Recently, the central government has taken a series of measures to expand domestic demand and promote stable and rapid economic growth, which played an important role to stabilize the market, improve expectation, enhance confidence and promote growth. At present, the international financial crisis continues to spread, and the impact on China's economy is more evident, so efforts must be further defined by the central authorities to implement policies and measures and to introduce relevant supporting measures targeted and focused to stabilize the production and employment, to help enterprises to overcome difficulties and enhance vitality and competitiveness, to accelerate industrial restructuring and change in the way of development, and to maintain stable and rapid economic development.

    The meeting urged all localities and departments to strengthen policy coordination, pay close attention to detail measures and put in place as soon as possible to ensure that the various policies and measures can achieve tangible results.

    Six policies to solve business problems and promote economic development

    (A) Support the development of key industries. Pay close attention to make revitalize development plan of iron and steel, automobiles, shipbuilding, petrochemical, light industry, textile, non-ferrous metals, manufacturing equipment and electronic information and other key industries.

    (B) Accelerate the technological upgrading, independent innovation, and mergers and acquisitions of enterprises. Focus on advancing the progress in technological field, making policy to promote enterprise merger and reorganization, to support independent research and development and to promote high-tech industrialization.   

    (C) Increase important supplies and support of country resources deposit and commercial resources deposit to increase and enrich the material reserves.

    (D) Support the development of small and medium enterprises. Pay close attention to improve the security system of small and medium enterprises and increase credit support from banks and improve the proportion of small and medium enterprises products in government procurement.

    (E) Speed up the development of the service industry. Encourage the development of the service industries; develop transportation, modern logistics and other producer-orientated services.

    (Vi) Increase employment and social security support. Expand the use scope of the unemployment insurance fund, help enterprises with difficulty stabilize employment and actively develop various types of education and training and put unemployed people and migrant workers into the training program.

    (Edited by CBI China)

China economy macroeconomy
Macro control policy
For queries, please contact Frank LIU at
For more information on how to access our research reports, please email
Related Price

No Data