China′s Equipment Producers to Get Govt Support

The Ministry of Industry and Information Technology and the country's top economic planner the National Development and Reform Commission will hold a joint discussion on a stimulus package for the equipment manufacturing industry on Jan 16, Shanghai Securities News reported.

Citing an anonymous source, the official newspaper said the package, with special emphasis on the spare parts sector, would include support to technology upgrading, innovation and research.

The final draft of the package is expected to be submitted to the State Council, China's Cabinet, for approval as the third of 10 stimulus packages to stimulate economic growth, stunted by the global slowdown.

The State Council approved the stimulus packages for auto and steel industries on Jan 14.