China’s Commerce Ministry said on Thursday that the country will boost manufacturing production in 2017 and increase sales of its most-used products, including automobiles, to help revive its economy and keep up with growing demand.
China has suffered from years of overcapacity and weak demand, and the country has been hit hard by a deadly earthquake and a tsunami in 2011 that destroyed some of its major cities.
A report from China’s State Administration of Science, Technology and Industry said China will boost the output of its leading brands and increase production of other products to increase their profitability.
The country will also invest more to expand production capacity, the report said.
China also plans to raise exports by 1 trillion yuan ($19.7 billion) and increase the number of domestic firms to 790,000 from 730,000, according to the ministry.