China to secure industrial growth in 2020

20.01.2020 - Evdokimov Roman
China to secure industrial growth in 2020

BEIJING- China assured to stabilize the industrial growth and aid its progress for 2020 despite pressing concerns encountered by the sector, Minister of Industry and Information Technology Miao Wei said on Monday.

China’s industrial production surpassed expectations last December by jumping up to 6.9% from a year earlier. Such was the most rapid pacing it tallied in nine months, closing 2019‘s overall expansion to 5.7%.

China’s economic growth retreated not far from 30-year low of 6.1% in 2019 brought by Sino-US trade war. In line, higher volume of stimulus is expected this year as Beijing fixes weak domestic demand.

China enabled an alliance of foreign firms with an aim of building a 5G network and to stand against technology politics, Miao disclosed to media, as a subtle criticism to United States’ scheme against Huawei, world’s leading provider of mobile networking apparatus.

Washington is persuading Britain to cancel the use of Huawei equipment for the country’s upgrading plan of its telecommunication networks.

China is also weighing the possibility of reducing subsidies for new energy vehicles, Miao added.

China expects vehicle sales to meet its previous records of 25 million units as the country anticipates that the production may stabilize or may inch down, he added.

               

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?