Industrial Upgrading Key To Macroeconomy - State Council

Policymakers will promote the upgrading of key industries to create a "ballast stone" for the macroeconomy and a core driver of stable growth, expert attendees at a recent State Council executive meeting have said. Wu Sa, deputy director of the Economic Research Institute said the government needs to support leading enterprises to become bigger and stronger, and also cultivate specialized SMEs. Zhong Huiyong, associate professor at the School of Finance at Shanghai University mentioned authorities are currently using digital technology to transform and upgrade traditional industries which was key to developing advanced manufacturing and enhancing the core competitiveness of the economy.