Special Report: Global Financial Crisis
BEIJING, Feb. 19 (Xinhua) -- The State Council, or China's Cabinet, announced plans to boost the country's light industry and petrochemical sectors in a bid to stimulate the economy.
The country will lift processing trade restrictions on some labor-intensive, technology-intensive, energy-efficient, and environment-friendly products, according to an executive meeting of the State Council on Thursday.
The government would further raise export rebates of some light industrial products, and extend fiscal and credit support to small and medium-sized firms within the sector.
It was decided at the meeting, two more products -- microwave ovens and induction cookers -- will be added to the list of home appliances that come with a government subsidy for rural buyers.
The government will act to expand urban and rural consumption and to increase supply of light industrial products on the domestic market, and at the same time, efforts will be made to improve foreign trade services and maintain export volume.
Technological upgrades within the industry was stressed, with focuses on independent development of equipment and industrialization of key technologies. Technological upgrades in the fields of paper making, home appliance and plastic sectors will be sped up.
Attendees to the meeting, which was chaired by Premier Wen Jiabao, also agreed that the food processing sector should be straightened out to ensure food safety in the country.
There would be higher standards for creation of new firms in the food processing sector, better recall systems for products and withdrawal mechanism for firms. There would also be more severe punishment for making and selling fake and substandard products.
The light industry firms were urged to step up efforts in developing their own brands and improving the quality of products.
Meanwhile, the Chinese government would strive to boost demand for petrochemical products in order to maintain the stable development of the sector.
Measures would also be taken to guarantee the supply of farming materials, such as fertilizers, and to push forward technological innovation and construction of major petrochemical projects.
It was decided at the meeting to give more policy support to the petrochemical sector, such as accelerating the building of finished oil product reserves, better tax policies and more credit access for firms.
The government will not approve coal chemical projects, such as coke and calcium carbide, that are merely meant to increase production capacities. It's an effort to control the overall capacity of the sector.
China said it would unveil support plans for 10 industries to stimulate the economy. So far, similar plans for six sectors - auto, steel, shipbuilding, textile, machinery-manufacturing, electronics and information industries- have been made public.
China approves support plan for
electronics and information industry
BEIJING, Feb. 18 (Xinhua) -- China approved Wednesday a
support plan for the country's electronics and information industry. The
government will boost innovation, increase financial input and promote the use
of information technologies in various fields in the next three years, according
to an executive meeting of the State Council, or the Cabinet. The meeting was
chaired by Premier Wen Jiabao. Full story
China approves stimulus plan for ship
building industry
BEIJING, Feb. 11 (Xinhua) -- China's State Council, or
Cabinet, adopted a stimulus plan Wednesday for the shipbuilding industry at an
executive meeting chaired by Premier Wen Jiabao. The meeting said
shipbuilding is a modern, comprehensive industry that provides technical
equipment for transportation, maritime development and national defense.
Supporting shipbuilders would also help other sectors, including steel,
chemicals, textiles, light industry, equipment manufacturing and information
technology, it said. Full story
China unveils plans to spur key
industries 
BEIJING, Feb. 5 -- The State Council has unveiled
support plans for the machinery and textile industries. The plans include
increasing export rebates for textile producers and supporting technological
upgrades for machinery makers. At a State Council meeting on Wednesday
presided over by Premier Wen Jiabao, a series of plans to revitalize the
machinery and textile industries were announced.
Full story
China to support 9 crisis-stricken
industries
BEIJING, Dec. 19 (Xinhua) -- China must take more powerful
and effective policies to support industrial development, the country's vice
premier Zhang Dejiang said at a work meeting concerning national industry and
information technology on Friday. "A stable and rapid industrial
development is essential to the country's overall economic advance," Zhang said.
Full stories
China unveils support package to auto,
steel industries
BEIJING, Jan. 14 (Xinhua) -- China's State Council
unveiled a long-awaited support package for the auto and steel sectors Wednesday
to boost the two "pillar industries". Under the plan, the government will
lower the purchase tax on cars under 1.6 liters from 10 percent to 5 percent
from Jan. 20 to Dec. 31 in a bid to stimulate sales. Full story
News Analysis: China's steel industry
benefits from stimulus, support plan
BEIJING, Jan. 22 (Xinhua) -- Excess capacity, low
industrial concentration and a lack of access to natural resources have long
plagued China's steel sector. These problems have been exacerbated by the impact
of the global financial and economic crisis. Full story
China mulls on stimulus package for oil and petrochemical
industry
BEIJING, Jan. 22 £¨Xinhua£© -- China is likely to unveil its
stimulus package for oil and petrochemical industry in the Lunar New Year,
according to the China Petroleum and Chemical Industry Association (CPCIA) on
Tuesday.Full story
