China encourages industrial capacity, equipment exports

China will further encourage projects that export Chinese industrial capacity and equipment under a "win-win" principle, an official with the country's top economic planner said on Thursday.[Special coverage]

Xu Shaoshi, director of the National Development and Reform Commission, said China has plenty of industrial capacity with comparative edges, but it is not fully utilized.

On the other hand, there is a huge amount of demand in some overseas countries, Xu said.

China and its foreign partners should strengthen pragmatic cooperation under the principle of achieving win-win and mutually beneficial results, Xu stressed.

Chinese companies have undertaken a number of railway projects in Africa and Latin America, the latest example being a 1,344-km railroad spanning the African country of Angola that was put into operation in February.

According to Yu Weiping, vice president of the big-shot high-speed railway manufacturer China North Railway, overseas deals signed by his company and China South Railway exceeded 3 billion U.S. dollars in 2014, respectively, an increase of more than 60 percent from the previous year.

In a government work report delivered by Premier Li Keqiang at the opening of the annual parliamentary session Thursday, Li said China will promote industries such as railways, power, telecom, machinery, automobile, airplane and electronics to "go abroad."