Special Report:
Global Financial Crisis
BEIJING, May 11 (Xinhua) -- China released a detailed three-year plan to
stimulate its nonferrous metal industry focused on industrial restructuring and
technology innovation, the State Council, or the country's Cabinet, said here on
Monday.
The nonferrous metal sector should keep a steady operation in 2009, and
achieve a sustainable development by 2011, according to the plan.
The country would encourage regrouping among nonferrous metal companies to
sharpen the competitive edge of the whole industry, the plan said.
Three-to-five nonferrous metal corporation would be formed out of
industrial reconstructing by 2011 with advanced production capacity and
technology innovation capability.
Combined copper output of top 10 domestic producers should take up 90
percent of the country's total by 2011, aluminum output 70 percent, lead 60
percent, and zinc 60 percent, according to the State Council.
The government would also encourage the exploitation of nonferrous metals
both at home and abroad, supporting companies to invest in mines overseas --
either on their own or with foreign parties.
The country would help with capital injection and foreign reserve
application concerning overseas projects.
The export rebate policy would be a "proper" and "flexible" one to
encourage nonferrous products with high technology and high added values,
according to the plan.
The State Council also laid out guidelines to eliminate obsolete capacity
and digest over capacity. No new project to develop electrolytic aluminum will
be allowed in the next three years, the plan said.
The country would put strict control on the production of copper, lead,
zinc, titanium and magnesium.
At the same time, China aims to save 1.7 million tonnes of coal and 6
billion KWh of electricity per year, as well as reduce sulfur dioxide by 850,000
tonnes annually as part of industrial upgrading for the nonferrous metallurgy
sector.
China was the largest producer and consumer of nonferrous metals with total
output of ten major nonferrous metals reaching 25.2 million tonnes and total
consumption at 25.17 million tonnes in 2008.
The country's nonferrous metal industry received a severe blow from the
global economic downturn after keeping high-speed growth for nearly a decade.
Statistics released by the China Nonferrous Metals Industry Association
showed aggregate profit of China's nonferrous metal producers fell 45 percent
last year to 80 billion yuan (11.73 billion U.S. dollars).
Along with the support plan for the nonferrous metal sector, the State
Council has unveiled stimulus packages for 10 industries since January, such as
machinery-manufacturing, electronics and information industries, the light
industry and petrochemical sectors.
China announces stimulus plans for
nonferrous metals, logistics
BEIJING, Feb. 25 (Xinhua) -- China's State Council on
Wednesday announced support plans for the country's nonferrous metals and
logistics sectors.
Presided over by Premier Wen Jiabao, Cabinet members
agreed to promote company restructuring and will offer subsidized loans to
support technical innovations within the nonferrous metals sector. Full story
China unveils stimulus package for
light industry, petrochemical sector
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. Full story
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 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
China's parliamentary sessions to focus on economic
downturn
BEIJING, Feb. 23 (Xinhua) -- As the global downturn
continues to take its toll on China's economy, responses to the turmoil will be
high on the agenda of lawmakers and political advisors who are scheduled to
gather here early next month for their annual full sessions. Full story
Special Report: China unveils stimulus package for 10
sectors
Posts
No comments:
Post a Comment