NPC deputies pledge more support for real economy


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The promise of fast and high returns have attracted many of China's investors into the capital and property markets in recent years, but it's come with lots of volatility and in many cases, losses. China’s stock market lost more than 30 percent of its value in two years, and tight policies and restrictions on the property market has cooled the sector.

At a press briefing earlier on Monday, a number of NPC deputies who also entrepreneurs pledged to encourage investment in industry and manufacturing - the pillars that make up the so-called real economy, which they say, is the foundation of China’s economic growth.

During the briefing, the deputies called for more incentive policies to encourage the growth of these sectors. That includes tax reductions, preferential land offerings, better talent placements, and more channels for financing and developing innovative technologies.

They urged banks to be more tolerant of non-performing loans held by SMEs and encouraged businesses to increase their profits by upgrading or adjusting their business models.

As to which industries should receive preferential treatment -- they pointed to those with high added value and advanced technologies.

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