ANNOUNCEMENT 08 Nov 2016
November 8th, 2016 - China's Shaanxi province published its regional interpretation of the PRC Ministry of Industry and Information Technology's 13th Five-Year Plan for the textile industry. With the same ultimate goal as the national plan, the local version focuses its instruments of action, with preferential financial treatment being the means of choice to carry out the plan.
NUMBER OF INTERVENTIONS
Shaanxi Provincial Government, November 8th, 2016. (山西省发展和改革委员会 山西省经济和信息化委员会关于印发《山西省“十三五”纺织工业发展规划》的通知)
On the 8th of November 2016, the Provincial Government of Shaanxi, China, announced its regional implementation of the PRC Ministry of Industry and Information Technology's 13th Five-Year Plan for the textile industry.
The goals of the regional plan are largely the same, with targets mentioned such as the promotion of green production technology, maintenance of the strength of the Chinese textile industry both at home and overseas, etc.
In Shaanxi, however, there is an emphasis on the use of preferential financial treatment, as opposed to tax breaks and grants, in carrying out the plan.
The plan mentions the improvement of credit support; supportive financial policies for new firms and the establishment of an 'Equity Trading Centre' to give bonuses to successful entreprises.
The plan will apply for the length of the national 13th Five-Year Plan Period: 2016-2020.