Current Date:

Monday, 26 June 2017
 

China Unveils New Steps to Revive Rustbelt Northeast

BEIJING (Reuters) - China has unveiled fresh plans to support its flagging northeastern provinces by forging closer economic links with more developed coastal regions

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China has already rolled out plans to revive its struggling northeastern provinces - Liaoning, Jilin and Heilongjiang, including launching major investment projects.
Economic partnerships will be formed between Liaoning and Jiangsu, Jilin and Zhejiang, Heilongjiang and Guangdong province, according to a circular issued by the cabinet.
Such economic cooperation will be "important measures" to revitalise northeastern provinces, the cabinet said.
Northeastern provinces will learn from successful state firm reforms in coastal provinces and encourage companies in coastal areas to participate in reforms of state firms in the northeast.
Authorities in the northeast will learn from coastal provinces on how to develop private firms and build a business-friendly environment, the cabinet said.
The regions should jointly construct infrastructure, including port, railway and highway, and cooperate on manufacturing and services sectors, it added.
Cooperation will also be set up between cities such as Shenyang and Beijing, Dalian and Shanghai, Changchun and Tianjin, and Harbin and Shenzhen, according to the cabinet.