China encourages industry restructuring in western regions
Updated: 2014-09-25 11:22
BEIJING - China has issued a set of tailor-made lists of industries eligible for preferential policies in less-developed western areas.
With each list made specifically for the corresponding provinces and municipality, the policies hope to help bolster local industries.
Starting Oct 1, enterprises engaged in the listed industries will enjoy tax breaks and support on lending and land, said a statement issued by the National Development and Reform Commission on Wednesday.
They involve 12 provincial-level regions, including Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi and Gansu.
In Chongqing Municipality, 32 industries, including metal processing,medical institutions and art training are eligible. Yunnan had 33 categories, which include solar energy batteries, rare metal recycling and flower cultivation.
The list was issued on the belief that agriculture in the west is still weak and the ratio of heavy industry against local economy is relatively high. The result is many economies rely too much on resources, which puts pressure on the environment, the statement said.
They also hope to help advance the west's underdeveloped service sector.
The list aims to better tap the comparative strengths of the west, boost industrial restructuring there and provide more policy support to the areas, it said.
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