MIIT Rolled Out Plans for Stabilizing Growth in Ten Key Industries
SUMMARY
- The key industry growth stabilization plan focused on both supply and demand, promoting structural optimization. The plans seek to restore and expand demand in key areas, focusing on promoting investment, driving consumption, and stabilizing exports.
- Stabilizing growth is the primary task of China's economic work in 2023.
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The Petrochemical industry is leading with investment expansion as a measure of stable growth, promoting the completion of more than five major petrochemical projects that are under construction by the end of 2024. It is also required to accelerate the demonstration of major petrochemical projects, promoting the commencement of a batch of oil-to-petchem conversion projects; while also enhancing technology reform and energy-saving & carbon reduction transition efforts.
Automobile manufacturing
Source: MIIT, China NBS, GL Consulting; Note: * The growth rates of industrial value-added in previous years are for enterprises above the scale.
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Written by the GL Consulting team (Mysteel's consultancy arm on energy transition): glconsulting@mysteel.com
Edited by Navy Liu: liuchuanjun@mysteel.com
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