On Tuesday, China’s National Development and Reform Commission and the Ministry of Industry and Information Technology issued a notice aiming to revitalize the industrial economy and promote high-quality industrial development.
According to the notice, in order to speed up the innovation and application of key core technologies, the government will increase the policy support for the “first set” and “first batch” of applications in the industry. Aiming to optimize the allocation of industrial chain resources, companies will be encouraged to focus on key areas such as new energy vehicles and medical equipment.
The regulators also think that it is necessary to strengthen the overall scheduling of resources, promote the full release of high-quality coal production capacity for power generation, heating and fertilizer, and promote coal-fired power enterprises to increase their power generation output. Local governments will then make emergency plans to guarantee supply, and ensure people’s livelihood and energy demand of key consumers.
In addition, all taxes of coal-fired power and heating enterprises in the fourth quarter of this year were suspended by Beijing. The government plans to improve the relevant policies on the control of energy consumption, and take multiple measures to effectively enhance the flexibility of total energy consumption management, so as to ensure industrial development. It will also severely crack down on all kinds of illegal activities such as spreading false information and disorderly speculation of capital.
Furthermore, Beijing plans to lay out a number of new infrastructure projects in the fields of 5G and Gigabit optical networks. It will start the construction project of integrated big data centers and the basic network improvement projects of small and medium-sized cities in the central and western regions of China. The government will also give full play to the role of national and local major foreign investment projects, and accelerate their implementation in advanced manufacturing and other fields.
Finally, the government regards it is necessary to promote new energy vehicles, and accelerate the construction of supporting facilities such as charging piles and battery swapping stations. It will encourage companies of household appliances to launch trade-in services. For rural area customers, to buy new energy vehicles, smart home appliances and green building materials will enjoy subsidies.