The Deputy Minister of Industry and Information Technology of China Mao Weiming recently discussed the main goals of the Council as being to improve the technical level and competitiveness of enterprises, along with the application of more stringent penalties for violations of established standards.
According to Weiming, China has no intention of increasing production capacity until 2017 in five industries: metallurgy, shipbuilding, cement, electrolytic aluminium and plate glass. At the same time, plans are in act to liquidate construction projects that do not meet established standards.
Mao Weiming also said that more stringent standards, which are intended to protect the environment, reduce energy consumption and security, will be introduced, along with more stringent penalties for violations of established standards. In addition, China will encourage the reorganization of production capacity and merging companies.
As reported last year in the technical reconstruction of industrial enterprises, China invested CNY 7.8 trillion (USD 1 = CNY 6.11), which is 18.1% more than the previous year and is equal to 43% of the total investment in the industry countries.