State Council Promotes International Cooperation in Equipment Manufacture and Capacity Building
On May 18, the State Council released Guiding Opinions on Promoting International Cooperation in Capacity Building and Equipment Manufacture, aimed at driving international expansion of domestic enterprises and building basic capacity cooperation mechanisms with key countries over the next five years, so as to help upgrade China's economic and industrial transformation.
The Opinions listed 12 key sectors for cooperation program, including:
- iron and steel
- nonferrous metal
- railways
- electricity power
- chemical engineering
- textiles
- communications
- building materials
- automobiles
- engineering mechanics
- aerospace
- ship and ocean engineering
The Opinions called for improving international competitiveness of the information and communications industry by encouraging telecom operators and internet companies to invest overseas, especially in the markets of developed countries, build and operate information infrastructures such as networks and data centers, and set up R&D facilities abroad to take advantage of global intelligent resources to strengthen the research and development of next-generation information technologies.
In addition, the Opinions outlined measures of policy support, including fiscal and taxation support, preferential loans, innovative financial products and services, RMB internationalization, diversified financing and equity investment sources, and credit insurance.
