Arab Today, arab today premier li urges more financial support for industrial upgrades
Last Updated : GMT 12:29:40
Arab Today, arab today
Arab Today, arab today

Premier Li urges more financial support for industrial upgrades

Arab Today, arab today

Arab Today, arab today Premier Li urges more financial support for industrial upgrades

Premier Li keqiang
Beijing - XINHUA

Premier Li Keqiang on Wednesday called for more financial support for industrial upgrades as the country strives to restructure its economy.

"Making good,creative use of financial tools to support industrial upgrades is an important way for the financial sector to better serve the real economy," read a statement issued after an executive meeting of the State Council chaired by Premier Li.

The government will encourage financial institutions to offer credit support to high and new tech enterprises, major technical equipment manufacturers, and projects that aim to strengthen China's industrial foundation, the statement said.

China expects more financial support in the shape of "green loans" that help enterprises improve energy efficiency and boost trade of pollution discharge right, the statement said.

The government encourages enterprises to raise money to reform old growth drivers through merger and revamping. Big enterprises will receive support for creating venture capital fund while local governments will help cover or compensate the bank guarantee when small and medium-enterprises seek funding, according to the statement.

Financial support will phase out for those enterprises that are mired in long-term losses, fail to meet environment or safety standards and with no prospect of amelioration, and whose production capacity is outmoded, the statement said.

The government will continue to straighten arbitrary and unreasonable financial charges, and at the same time support banks to deal with non-performing loans as soon as possible to defuse financial risks, the statement said.

To help realize medium and high-end manufacturing, an important part of China's supply-side structural reform, breakthroughs in connecting "made in China" with "the Internet" are needed, the statement said. The government will promote digitized, Internet-based and intelligent manufacturing in a bid to create new business models and products.

A fund that supports the implementation of the "Made in China 2025" plan will be established, the statement said, without elaborating on the exact amount. A number of major technological transformation projects will start.

China will strengthen its national standards to facilitate the production of high quality products to meet the needs of consumers, the statement said, adding that the country will work for closer international cooperation.

Burdens on enterprises will be further reduced. From February 1, the government will cut, cancel or streamline various charges including new vegetable plot development fees and price adjustment fund. The exemption threshold for education and water conservancy taxes will be raised to a monthly revenue of 100,000 yuan (15,200 U.S. dollars) from the current 30,000 yuan. The new measure translates to an annual saving of 26 billion yuan for enterprises, the statement said.

The meeting also highlighted the importance to taking care of left-behind children, whose parents work away from home and rarely spend time with their children.

The family should have the main responsibility of raising children while local governments, village committees and philanthropic organizations must work to ensure their safety and education, read the statement.

The government will do more to crack down on illegal activities that harm left-behind children and reduce the number of these children by helping migrant workers be admitted into cities or to start their own businesses in the countryside.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today premier li urges more financial support for industrial upgrades Arab Today, arab today premier li urges more financial support for industrial upgrades

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday