Ministry of Industry and Information Technology to Expand Effective Demand, Promote Industrial Innovation and Development
In a press conference held by the State Council Information Office on the 19th, Zhao Zhiguo, spokesperson of the Ministry of Industry and Information Technology, announced plans to expand effective demand and promote industrial innovation and development.
The Ministry aims to carry out in-depth campaigns for consumer goods and raw materials, popularly known as the “three products” campaigns. This initiative will focus on organizing new energy vehicles, smart home appliances, and green building materials to go to rural areas, stimulating economic growth and improving living standards in these regions.
Furthermore, the Ministry will champion the innovation and development of several industries, including medical equipment, general aviation, and cruise ships, and yachts. By encouraging the growth of these sectors, the Ministry seeks to lead the creation of demand with a high-quality supply.
To achieve these goals, the Ministry will strengthen the overall planning of the “14th Five-Year Plan” in the field of industry and information technology. They will also collaborate with the China Development Bank to implement special loans, thereby increasing investment in the manufacturing sector.
In addition, the Ministry plans to guide the expansion of markets in key countries and regions along the “Belt and Road” initiative. By consolidating the export of industrial products to these markets, the Ministry aims to enhance China’s global trade position and boost its economy.
However, it is important to note that the Securities Times, the source of this news article, emphasizes that the content should be viewed as reference material and not considered substantive investment advice. Investors are advised to make decisions at their own risk.
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As the Ministry of Industry and Information Technology embarks on these initiatives, it strives to drive economic growth, promote innovation, and strengthen China’s position in the global market.