China's industrial sector 'facing increasing downward pressure': Ministry
[BEIJING] China's industrial sector is facing increasing downwards pressure, with weak demand, sliding investment and falling exports posing the biggest difficulties for firms, the industry ministry said on Friday.
A persistent decline in the producer price index (PPI) is adding to firms' operational difficulties, the ministry said in a document issued ahead of a briefing in Beijing.
The ministry said it would encourage firms to merge and restructure, and continues to recommend firms look overseas for opportunities. The ministry also said it will promote automobile purchasing.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Ecuador president declares state of emergency over energy crisis
US Senate has agreement on Fisa reauthorisation, will vote on Friday night, Schumer says
US expects to finalise new Aukus trade exemptions in next 120 days
IMF concerned about debt, fiscal challenges facing low-income countries
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising
Colombian fund managers eye US$750 million fee bonanza after senators tweak pension bill