MNI POLICY: China To Boost Help For Companies In H2: NDRC

     BEIJING (MNI) - China will increase efforts to help enterprises with

measures to boost consumption and investment, along with reinforcing policy

reserves for future uncertainties, said Yan Pengcheng, head of national economy

at the National Development and Reform Commission (NDRC) Friday.

     The NDRC will introduce measures to help industries and enterprises badly

impacted by the pandemic, as well as fine-tuning measures to cut rents, fees and

interest rates already in place, said Yan.

     It will also promote replacement and recycling of home appliances and

autos, as well as targeted measures to improve sanitation in public places to

help the recovery of tourism and catering, he added.

     More investment will tilt to hi-tech infrastructure, public health,

emergency supplies, transportation and energy projects, Yan said.

     In the first half of the year, the NDRC has approved a total of 54 fixed

asset investment projects worth CNY494.4 billion, mainly in transportation, high

technology, energy, agriculture, forestry and water conservancy sectors, NDRC

spokesman Yuan Da added.

     The total investment of newly-started projects rebounded +13.5% y/y in the

Jan-June period, reversing the 47.1% slump in Jan-Feb, showing good momentum

after the pandemic peak passed, according to Yuan.

     China has also kicked off the renewal of 39,000 old urban communities,

supporting the installation of elevators, and the construction of parking and

charging areas for electric cars, Yan added.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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