ANNOUNCEMENT 25 Oct 2018
October 25th, 2018 - The Chinese government released a plan to increase state support in the raw materials sector.
NUMBER OF INTERVENTIONS
PRC Ministry of Industry and Information Technology, October 25th, 2018. (工信部联科〔2018〕198号 四部门关于印发《原材料工业质量提升三年行动方案（2018-2020年）》的通知)
On Ocotber 25th, 2018, the Chinese Ministry of Industry and Information Technology released Gongxinbu Lianke 2018/198 (hereafter, 'Plan'), a three-year 'action plan' to boost the standard of the raw materials industry in China.
The targets in the plan arise from a top-level State Council announcement to boost the general level and perception of quality in Chinese goods and services, released in 2017 (see related act).
The Plan targets four industries:
The plan aims to boost efficiency of these industries through improved technological standards, less waste and more 'synergy'.
The Plan promises 'increased financial support' for eligible firms through increased provision of financing and preferential rates on insurance. Only domestic firms are eligible for the treatment.
The plan is one of several 'action plans' released by the Chinese government. It is stated to be in effect from its promulgation until the end of 2020.