Beijing will roll out action plans to stabilize growth in the machinery, auto, and electrical equipment sectors, according to Tao Qing, spokesperson for China’s Ministry of Industry and Information Technology. The initiative aims to “improve premium supply capacity” and promote both qualitative upgrades and steady quantitative growth. Tao added that a digital transformation plan for the automotive industry will be introduced, alongside similar initiatives for machinery and power equipment. The ministry also plans to promote the “orderly exit of outdated production capacity” as part of its broader industrial strategy.
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