Despite mounting downward pressure on China's industrial economy, China's Ministry of Industry and Information Technology on Thursday said it was ready to step up support for the sector as part of efforts to stabilize the country's economic fundamentals.
It is necessary to accelerate the implementation of a package of policy measures, such as tax cuts and fees, to help enterprises overcome difficulties as soon as possible, said Tao Qing, a spokeswoman for the department.
She said the ministry will make every effort to ensure the smooth operation of production chains, adding that measures will be taken to promote interaction between enterprises participating in production chains in key industries such as automotive and integrated circuit manufacturing, as well as to eliminate problematic locations in key regions.
According to her, the ministry will increase its assistance to small and medium-sized enterprises and coordinate with other departments to optimize the business environment.
In addition, efforts will also be made to stimulate consumption and expand efficient investment in the industrial sector, Tao Qing said.