China has announced new stimulus measures to help petrochemical producers and light industrial companies, the Wall Street Journal reported. The State Council said in a statement on the central government website on Thursday that it would assist these sectors, though it did not provide any details of the plan. Beijing also intends to improve the energy-pricing mechanism, accelerate plans for oil reserves and halt approvals for coke projects to prevent excess capacity. Export-tax rebates will be increased for some light industry products and a subsidy program for rural residents purchasing domestic appliances will be expanded to include microwave and electric ovens.
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