Tag Archives: State Council

Business, China, News

China lowers minimum capital requirement for fixed-asset investment

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BEIJING, Sept. 1 (Xinhua) — China’s State Council, the cabinet, decided on Tuesday to lower the minimum capital requirement for fixed-asset projects in a bid to boost investment in public goods and services.

The minimum capital ratio of key projects of ports, costal and river transportation, and airports has been lowered to 25 percent from 30 percent. The minimum capital ratio of railroad, highway and urban rail projects decreased to 20 percent from 25 percent.

In addition, the government has changed the minimum capital requirement for corn further processing projects from 30 percent to 20 percent.

However, the State Council said industries with excessive capacity would still face high capital ratios between 30 percent and 40 percent. (Edited by Huang Xiaolan, huangxiaolan@xinhua.org)

 

Business, China

China to deepen reform to boost innovation and entrepreneurship

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 BEIJING, July 15 (Greenpost) — China will remove more vocational qualification and certification requirements to support creation of new businesses and bring forth new ideas.

A total of 62 vocational qualifications, including web advertising brokers and port cargo handling workers, will be abolished, according to a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang on Wednesday.

The qualifications used to be required as a threshold to for people to enter the profession.       “China has been strengthening  innovation and entrepreneurship,” the statement read, “and will continue reform to remove unreasonable constraints for market entities, to let the market play the key role in allocating resources.”

Meanwhile, the government also promised to stabilize the exchange rate of the yuan at a reasonable and balanced level.
It also pledged to facilitate renminbi settlement to help enterprises avoid risks in cross-border trade, according to a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang on Wednesday.
The cabinet also stressed providing more support to small and micro enterprises, as well as the development of emerging market.

Source Xinhua

Editor Xuefei Chen Axelsson
Business, China, News

China creates leading group for enhancing manufacturing prowess

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China creates leading group for enhancing manufacturing prowess

BEIJING, June 24 (Xinhua) — The State Council, China’s cabinet, will set up a leading group for its ambitious plan to enhance manufacturing prowess and change the reputation of “Made in China” goods.

The group, led by vice premier Ma Kai, will coordinate, deliberate and implement plans for becoming a world manufacturing power, according to a statement published on the government website.

The group will be headquartered in the Ministry of Industry and Information Technology, the statement said.

The decision came a month after the release of the “Made in China 2025” plan, which aims to transform China from a manufacturing giant into a world manufacturing power.

The plan lays out strategies for upgrading from low-end manufacturing to more value-added and tech-intensive production, and encourages domestic manufacturers to achieve technological breakthroughs across a number of emerging industries from numerical control tools and robotics to aerospace equipment and new energy vehicles.

Nine tasks have been identified as priorities: improving manufacturing innovation, integrating technology and industry, strengthening the industrial base, fostering Chinese brands, enforcing green manufacturing, promoting breakthroughs in 10 key sectors, advancing restructuring of the manufacturing sector, promoting service-oriented manufacturing and manufacturing-related service industries, and internationalizing manufacturing. Enditem

 

 

Business, China, News, World News

China pledges deeper int’l industrial cooperation

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China pledges deeper int’l industrial cooperation

 

STOCKHOLM, June 2(Greenpost) — The State Council, China’s cabinet, on Wednesday vowed more promotion of industrial integration with other countries for mutual benefit.

China will push industrial and equipment manufacturing cooperation with other countries in accordance with their needs, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

Cooperation with countries, most notably those along the Belt and Road Asian infrastructure and trade networks, could drive Chinese equipment exports in industries including railways, power, telecommunications, construction materials and machinery, while helping the recipient countries create jobs and stimulate growth, the statement said.

Efforts should be made to “foster an industrial cooperation chain” and build a cross-border yuan payment system, according to the statement.

The cabinet also urged authorities to simplify investment procedures to pave the way for equipment exports.

To facilitate industrial upgrading and boost economic growth, the Chinese government has on many occasions underscored the importance of “international industrial capacity cooperation”, referring to a campaign that will involve moving Chinese production lines to other countries and China setting up factories with local partners abroad.

Earlier data showed outbound direct investment of the equipment manufacturing sector hit 960 million U.S. dollars during the first quarter of 2015. Enditem

Source Xinhua

Editor  Xuefei Chen Axelsson

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