September 9, 2019 / 11:46 AM / 3 months ago

China to further support private firms, boost manufacturing - state media

FILE PHOTO: A general view of the financial Central district in Hong Kong, China July 25, 2019. REUTERS/Tyrone Siu/File Photo

BEIJING (Reuters) - China will create favorable conditions for private firms and improve the competitiveness of its manufacturing sector, state broadcaster CCTV reported on Monday, citing a central committee meeting on reforms chaired by president Xi Jinping.

The meeting, which took place on Monday afternoon, approved several plans on topics including guidance on better integrating advanced manufacturing and services sectors, without giving specific details.

China will also promote “high-quality” trade, step up supervision over financial institutions’ state asset management, and strengthen policy control to ensure food security, the meeting concluded.

Reporting by Beijing monitoring desk; Editing by Louise Heavens

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