BEIJING- On Monday, China’s Industry and Information Technology Minister Miao Wei said that China is confident of keeping industrial growth steady this year despite the pressure the sector faces.
China’s industrial output topped its December expectations by 6.9% above last year’s bringing 2019’s expansion to 5.7%.
The world’s second-largest economy’s economic growth cooled to a 30-year low in 2019 to 6.1% due to the trade war between U.S. and China. This year more stimulus is expected as Beijing attempts to boost its sluggish domestic demand.
Foreign firms are welcomed by China to participate in its 5G network building. China is also trying to postpone subsidy reduction for new energy vehicles.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.