China's Ministry of Industry and Information Technology said on Tuesday that favorable factors and difficult risks that affect the operation of China's industrial economy in the second half of the year coexist, with both rebounding momentum and downward pressure. The expected growth target of industry for the whole year needs arduous efforts but can be achieved. Some foreign-funded enterprises'relocation conforms to the objective law of industrial development and trade. The influence of friction on industrial operation can be controlled.
Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, said at a news conference held by the State New Administration that affected by market, cost and economic factors, some foreign-funded enterprises withdrew from the Chinese market, and some domestic processing and manufacturing industries, including processing-intensive industries, also sought investment and development opportunities in countries with lower costs. This is a gradient transfer of industries. There is no need to make a fuss about this move to low-cost areas.
"Basically, they are mainly middle and low-end enterprises. The impact on China's economic growth, industrial upgrading and labor employment is generally controllable. He said that China will further deepen the process of opening up manufacturing and telecommunications industries and expand the scope and scope of encouraging foreign investment.
On the same occasion, Huang Libin, a spokesman for the Ministry of Industry and Information Technology, said that although the Sino-US economic and trade frictions had a certain impact on industrial operation, the impact was controllable. The next step will be to take further measures to help enterprises tide over difficulties.
According to its introduction, in order to deal with the Sino-US economic and trade frictions, the Ministry of Industry and Information Technology has carried out the elimination of tariff commodities imposed by the United States and Canada, and implemented income tax relief measures for integrated circuit design and software industry enterprises which are greatly affected by Sino-US frictions.
Wenku, Director of the Information and Communication Development Department of the Ministry of Industry and Information Technology, stressed that 5G is a very important infrastructure. The issuance of 5G licences takes into account not only the maturity of equipment and terminals, but also the development of future countries, networks and applications.
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