Jointly Issued by the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC), and the State-owned Assets Supervision and Administration Commission (SASAC)

Overview

On November 21, the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State-owned Assets Supervision and Administration Commission jointly issued the “Notice on Strengthening Efforts to Revitalize the Industrial Economy and Consolidate the Positive Recovery Trend” (hereinafter referred to as the Notice). The document outlines 17 targeted measures across five key areas:

1. Reinforcing the foundation of industrial stabilization through multi-pronged efforts
2. Promoting the stable development of key industries with sector-specific strategies
3. Encouraging coordinated regional industrial development with tailored local policies
4. Enhancing enterprise vitality through company-specific measures
5. Strengthening guarantees and safeguards for effective policy implementation

Key Measures for Industrial Growth

To address current challenges in the industrial economy—including weak demand recovery, supply chain bottlenecks, and structural constraints such as technological shortfalls—the Notice proposes coordinated actions on both the demand and supply sides:

1. Accelerate the implementation of major projects
   Expedite the construction of major projects under the “14th Five-Year Plan” for manufacturing, and utilize policy tools to support enterprise equipment upgrades and investment. Encourage government investment funds to play a greater role.
2. Expand market potential and stimulate consumer demand
   Stabilize bulk consumption sectors such as automobiles; promote the national campaign for consumer goods quality, branding, and innovation; and encourage green and digital consumption.
3. Stabilize exports of industrial products
   Implement foreign trade stabilization policies, strengthen services for exporters, and support the development of new foreign trade formats like cross-border e-commerce.
4. Strengthen the resilience and security of industrial and supply chains
   Guide enterprises to overcome disruptions and maintain production stability. Ensure the supply of critical energy, raw materials, and key components.
5. Cultivate new drivers of growth
   Foster clusters of advanced manufacturing, deepen integration of next-generation information technologies with industry, and accelerate the development of the digital economy.

Policy Guidelines and Strategic Focus

According to MIIT Vice Minister Xin Guobin, four core policy principles guide the measures:

• Focus on priorities and improve efficiency
• Adapt policies to local and sectoral conditions
• Balance short-term actions with long-term planning
• Adopt a bottom-line mindset to ensure security and stability

These measures aim to maintain policy continuity and stability, while ensuring timely and targeted support for weak links in key industries.

Sector-specific policies include expanding automobile consumption, ensuring stability in export-oriented industrial chains, and establishing national demonstration zones for high-quality manufacturing development.

The Notice also emphasizes the need to anticipate and mitigate risks, ensure secure supplies of energy and materials, and safeguard the stable operation of key industrial and supply chains.

Targeted Support for Key Industries and Enterprises

To further enhance policy effectiveness, the Notice highlights the following initiatives:

• Continue implementing tax reduction policies for vehicles with engines below 2.0L and extend purchase tax exemptions for new energy vehicles.
• Promote home appliance replacement and rural distribution programs to boost consumption.
• Accelerate the use of China-Europe freight trains for transporting new energy vehicles and batteries.
• Support cross-border e-commerce and overseas warehousing to strengthen export competitiveness.

It also proposes:

• Establishing a regular coordination mechanism to stabilize key industrial and supply chains
• Providing targeted assistance to leading enterprises and key supply chain nodes
• Supporting large enterprises to play a pillar role, while boosting the development of specialized, refined, and innovative SMEs, and improving services for foreign-invested enterprises

Implementation and Supervision

To ensure effective implementation, the Notice outlines three safeguards:

1. Strengthen accountability and coordination across departments and levels
2. Enhance policy support and optimize the development environment
3. Improve monitoring, supervision, and incentive mechanisms

MIIT will intensify efforts to promote and monitor the implementation of these measures, encourage local governments to introduce supplementary policies, resolve implementation bottlenecks, and maintain close monitoring of major industrial provinces, sectors, parks, and enterprises.

The ministry will also carry out forward-looking research and enhance the policy toolbox to ensure a solid foundation for maintaining industrial growth momentum in the fourth quarter of 2022 and enabling a stable start in 2023—laying the groundwork for advancing new industrialization.