China industry ministry submits grain processing industry plan for approval

China's Ministry of Industry and Information Technology has submitted the draft plan for development of grain processing industry during the 2009-2020 period to the State Council for approval.

The draft has not mentioned policies of restricting foreign grain enterprises. The plan drafting is regarded as a follow-up move of China's industry booster programme.

According to the State Administration of Grain, although the draft has proposed to complete assessment mechanism for foreign enterprises' investment and acquisition, this does not imply restriction of foreign capital. The real aim is to improve policies concerning foreign firms and joint ventures.

Support policies will include strengthening self-owned brand development, promoting technology upgrading, encouraging enterprises to develop overseas market and preferential financial and tax policies for large state-owned enterprises.