Source: CCTV.com

05-13-2009 09:15

The State Council has released a detailed three-year plan to stimulate the equipment manufacturing industry. The plan points out that China's equipment manufacturing industry lacks innovation, and faces problems such as undeveloped technology.

The State Council has released a detailed three-year plan to stimulate the equipment manufacturing industry.

The plan aims to expand the existing market share of the domestic industry and make breakthroughs in research and investigation projects. It also says China will promote mergers and acquisitions in the industry. Companies are encouraged to issue shares, bonds and bills, as well as apply for loans to fund mergers.

The country will also increase export tax rebates for some high-tech equipment and equipment with high added value.

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Editor:Xiong Qu