BEIJING: China will inject 100 billion yuan (US$15.3 billion) in the next two years to finance a structural reform in its industrial companies that is expected to upgrade the employability of workers, the Ministry of Industry and Information Technology said yesterday.
Vice Minister Feng Fei said the money will be used to boost training for workers. Assets that are obsolete and no longer efficient in the restructuring will be disposed, Feng said at a press conference.
Instead of seeking insolvency liquidation, Feng encouraged that inefficient enterprises be merged or acquired.
At the same conference, Minister of Industry and Information Technology Miao Wei said the ministry will co-develop the Made In China 2015 and Internet Plus concepts to nurture entrepreneurship.
