Chinese vice premier wants stable industrial sector

Chinese Vice Premier Ma Kai has urged more efforts to stabilize growth in industrial production and improve quality and profitability in the sector.

The industrial sector is the main force of the Chinese economy and its healthy development is of great significance, said Ma during a recent trip to east China's Anhui Province.

The vice premier asked enterprises to increase "effective supply" by upgrading technology and diversifying their products with better quality.

Overcapacity should be reduced and outdated capacity be phased out, said Ma, calling for vigorous promotion of mergers and acquisitions as well as bankruptcy and reorganizations during this process.

He vowed to streamline administration, deepen reforms of state-owned enterprises and work to boost their vitality. Enterprises are encouraged to innovate in technology, governance and commercial modes.

The vice premier also promised to reduce financial burden for enterprises and create a level playing field for all market entities.

Source: XINHUA