China approves steps to boost local industry
The China State Council yesterday approved measures to boost the nation's equipment-manufacturing industry, including increasing use of domestic-made parts in major construction projects.
The government will also raise spending on technical upgrades and boost credit support for exports, according to a statement. Components and raw materials that are really needed to be imported will be exempted from import duties and value-added taxes, the statement said, without being specific.
View on Emirates24|7