China announces northeast action plan
Print Edition
THE central government has announced an action plan to assist the northeast region’s faltering economy with a list of new measures.
The plan aims to free up private businesses, deepen reforms of state-owned enterprises, develop modern agriculture, renovate rundown urban areas and launch infrastructure projects in the provinces of Liaoning, Jilin and Heilongjiang.
The 35 new measures, listed on the State Council’s website yesterday, come after northeastern regions saw the slowest economic growth among China’s provincial areas in the first half of the year.
China will speed up the construction of eight rail lines and build or expand 10 regional airports in the region, the document said.
SOEs are encouraged to sell part of their equities to private and foreign investors to build a mixed ownership system and pay for the reforms.
A new state-owned regional investment company will be established to hasten reorganization of poorly run SOEs in the region, the document said.
The central government will support emerging industries including robotics, gas turbines, advanced marine engineering equipment and integrated circuits, as well as expanding the service industry of the region.
The document said the region’s status as a core grain production base was to be strengthened.
The document also said power transmission projects, nuclear power plant projects and heating projects would be part of a clean energy network.
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