China plans support for industrial firms hit by high raw materials cost

China's Ministry of Industry and Information Technology is studying measures to enhance the structure of supply-side policies, boost consumer demand and incentivise investments in technology

China is planning “extraordinary” new policies to help downstream industrial firms that have seen their profits hit by the high cost of raw materials, according to Shanghai Securities News.
 

The Ministry of Industry and Information Technology is studying measures to enhance the structure of supply-side policies, boost consumer demand and incentivize investments in technology, the newspaper said in a report Monday. The paper, which is managed by the official Xinhua News Agency, didn’t cite a source for its information.

Many downstream companies, including new energy vehicle makers, have recorded losses this year, the report said. The article