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China will step up efforts to advance the construction of battery-swapping infrastructure to promote quality growth of the new-energy vehicle sector, the Ministry of Industry and Information Technology said on Thursday.
China will offer more government-guaranteed financing and credit support to small and microsized businesses and agricultural and rural entities to tide them over the current tough economic times.
China will not resort to competitive measures like zero interest rate or quantitative easing, but would instead maintain its conventional monetary policies over the long term and ensure currency stability, a top monetary official said.
China will cut taxes by another 60 billion yuan (.5 billion) to drive innovation and entrepreneurship and boost the development of small and micro businesses, the State Council decided in an executive meeting presided over by Premier Li Keqiang on Wednesday.
China's CPI rose 0.8 percent year on year in February, substantially lower than the 2.5-percent growth in January, NBS data showed.
