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China Considering Additional Support for Manufacturers

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China is considering additional measures to help consumer goods manufacturers who have seen their profits plummet due to the high cost of raw materials.

 

This is reported by the Shanghai Securities News, which is managed by the official Chinese news agency Xinhua News Agency.

Consumer goods makers, including electric vehicle manufacturers, have suffered losses this year as a result of higher costs for raw materials and raw materials such as steel, oil and gas, partly as a result of the war in Ukraine.

According to the paper, Beijing is considering measures to boost consumer demand and investment in technology. Indeed, the problems at the manufacturers’ level could lead to significantly weaker investment in production in the second half of the year, which would be a blow to the economy.

The government should stabilize the investment confidence of these manufacturers and help improve their yields by solving problems such as delinquency, said Liu Xiangdong, deputy chief executive at the China Organization for Economic Research, Exchange and Advice (CCIEE).

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