China rolls out policies to shore up industrial economy

BEIJING -- China on Tuesday announced new measures to boost its industrial economy as part of the country's efforts to drive high-quality development in the sector.

The policies, jointly issued by the National Development and Reform Commission (NDRC) and the Ministry of Industry and Information Technology, aimed to release more market potential and stimulate the vitality of market entities, said a statement on the NDRC's official website.

The country will ensure energy security, stabilize the supply and prices of bulk raw materials, and smooth key industrial and supply chains.

Demand potential will be further fulfilled with measures to help implement major projects, advance technological updates of enterprises, cultivate new business forms and models, and promote foreign trade and foreign capital utilization.

China will step up safety measures in the industrial sector, improve policy systems in key regions, strengthen financing support for the manufacturing industry, and help firms navigate employment challenges.

More efforts will be made to reduce burdens on medium and small companies and optimize market environments, added the document.