Plans afoot to revive northeast
Print Edition
CHINA will encourage new industries to develop in the country’s northeast region in a bid to revive its fortunes, the National Development and Reform Commission said on Thursday.
The government will help channel new investments in basic infrastructure projects and public services. It will also introduce financial policies to encourage enterprises and reduce risks for entrepreneurs, the NDRC said.
The NDRC has named robotic, gas turbine and ocean engineering equipment industries as catalysts for the economies of Liaoning, Jilin and Heilongjiang provinces.
Meanwhile industries such as nuclear and coal power, railway transport, petroleum and metallurgy as well as machine tools will be upgraded to tap overseas markets.
The NDRC move followed a government notice issued in August that aimed to re-establish the northeast region’s industrial capacity. The region’s economic development had been slowing since 2013, Xu Shaoshi, director of the NDRC, said.
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