China to pump hundreds of billions of yuan into key industry …

China’s industry ministry has joined hands with China Development Bank – Beijing’s financing arm that bankrolls state-backed projects – to pump hundreds of billions of yuan into designated manufacturing and technology projects as the government further directs resources into areas it deems critical to the nation’s economic well-being.The Ministry of Industry and Information Technology (MIIT) said in a statement on Friday that it has targeted an initial batch of 105 projects across the country,…

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