China is planning to revitalize industries which are losing momentum. On Wednesday, a draft plan on revitalizing the country's textile industry and equipment manufacturing industry will be brought to the State Council for consideration.
Chinaisplanningtorevitalizeindustrieswhicharelosing
momentum.
Industry restructuring and technological innovation are encouraged in the plan. Reports say the draft also asks the central government to establish a special fund to upgrade the industries. More measures are suggested to help small and medium sized enterprises with application for bank loans.
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