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7 measures to boost industrial output

By Zheng Lifei and Jiang Wei (chinadaily.com.cn)
Updated: 2008-12-12 11:34

The Ministry of Industry and Information Technology Friday proposed seven measures to support key industrial sectors to boost output, Minister Li Yizhong told a press conference Friday morning.

The growth rate of industrial output has been declining in the past several months.

The ministry is poised to improve state and commercial reserve systems and increase the stocks of crucial resources, cut taxes on key industries, strengthen financial support to key industrial enterprises and encourage mergers and acquisitions of enterprises in important sectors, including steel, non ferrous metal and building materials.

It will also encourage companies to upgrade technologies and the ministry will help them develop rural markets and expand exports.