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China To Strengthen Support For Manufacturers - Journal

CHINA PRESS
MNI (Singapore)

Both central and local governments are increasing policy support to stabilise manufacturing investment and promote the high-quality development of industry, said China Securities Journal in a front-page report. Manufacturing SMEs can defer paying taxes and fees for up to 13 months, which is expected to save them more than CNY20 billion in financing costs, the newspaper said citing analysts. The re-lending facility announced by the People’s Bank of China, which supports banks to provide loans with an interest rate of no higher than 3.2% to manufacturers, will spur investment in equipment upgrades, the newspaper said. Additional support for land, taxation and capital should be continued to boost manufacturing investment, the newspaper added.

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