China encourages polyester production
17/05/2013
Plants with a daily output of more than 300 tons will no longer need pre-approval from local governments and can go ahead without authorisation.
The changes intend to “seriously reduce administrative intervention in microeconomic activities” to “further unleash benefits from reform” and to “enhance growth momentum,” the government said in a statement.
It is part of a wider strategy to boost growth, encompassing 117 industries. Premier Li Keqiang said authorities are reluctant to use stimulus to counter a slowdown and that China must rely on market mechanisms to aid growth.
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