Mumbai, February 20 (Commoditiescontrol)In a bid to promote steady industrial growth, China’s state planner is working on measures to stabilise the commodity market and developing new infrastructure.
The National Development and Reform Commission (NDRC) and other regulators have announced 18 measures in a notice involving fiscal, financial, environmental and more policies to bolster the industrial sector of China.
The NDRC said the authorities would ensure supply and stabilise prices of primary products and key raw materials, including iron ore and fertilizer, a report said.
The most-traded iron ore futures on Dalian Commodity Exchange posted the biggest weekly decline in nearly two years.
The state planner said it will encourage companies to invest in certain domestic iron ore and copper projects and boost use of scrap metal.
Distributed solar power projects in central and eastern regions will also be encouraged, the NDRC said, adding that it would develop large-scale wind power and solar power bases in Gobi desert regions.
The economic planner said it would guide the financial system to transfer profits to the real economy this year, pushing state-owned banks to lend more to manufacturers and back major projects to cut carbon emissions.
The country will also speed up construction of new infrastructure projects, and increase financial support for traditional trading firms, cross-border e-commerce companies and others, authorities said in the notice.
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