Xie Shaofeng, Chief Engineer of China's Ministry of Industry and Information Technology (MIIT), stated at a press conference held by the State Council Information Office that as the complexity and uncertainty of the external environment have increased and structural contradictions in some industries have become more pronounced, some enterprises are facing considerable difficulties in production and operations.

At the same time, however, various supportive policies are continuing to take effect, a range of reform measures are being rolled out at a faster pace, and the certainty of China's high-quality economic development is steadily strengthening, Xie stressed. The fundamentals of stable growth in the industrial economy remain unchanged.

Related NewsExports YoY for Jun in China is 5.8%, higher than the previous value of 4.8%. The forecast was 5%.
Going forward, efforts will be made to ensure the stable operation of the industrial economy, solidly promote the integrated development of technological and industrial innovation, advance the construction of a unified national market, facilitate the optimization and upgrading of industrial structures, and enhance the resilience and security of industrial and supply chains.

With a market-oriented approach and a rule-of-law mindset, industry governance will be strengthened and the orderly exit of outdated production capacity will be promoted.