China has issued a work plan to stabilize the development of the light industry during the period from 2023 to 2024.
The country aims to keep the industry’s average growth of added value at about 4 percent and the combined operating revenue of major enterprises over 25 trillion yuan (about 3.5 trillion U.S. dollars) during the period, according to the plan jointly issued by the Ministry of Industry and Information Technology and other two government agencies.
Efforts will be made to focus on key sectors, such as household goods, and plastic products, in order to stabilize the basic market and strengthen new growth drivers, according to the plan.
China will shore up multiple sectors, including household products, specialty food products, goods catered towards senior citizens and children, as well as prepared food.
To address the weak links in sectors including home appliance, leather and washing products, work will be done to accelerate technological innovation and promote technological breakthroughs in key raw materials, parts and equipment, said the plan.
The country will also cultivate and upgrade 50 light industry clusters, each with a scale of more than 30 billion yuan to continuously improve the quality and efficiency of industrial development.—Xinhua
