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Premier outlines measures to boost Northeast China

Updated: Jul 31,2014 11:14 PM     Xinhua

Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, presides over a work conference on reinvigorating the outmoded industrial bases in the northeast and other regions, in Beijing, capital of China, July 31, 2014. Vice-Premier Zhang Gaoli, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the conference.[Photo/Xinhua]

Premier Li Keqiang vowed on July 31 that China will take effective measures to stabilize the economy in northeast China, a region that has seen growth slow since last year.

Presiding over a cabinet meeting on the subject, the premier talked to central and local government officials about problems facing the regional economy, and work that needs to be done to boost the region.

Li urged local governments to promote scientific development, deepen reform, expand opening up, and be more innovative. He added that the region’s abundant resources, industrial layout and talent should provide great growth potential.

The premier sees simplification of administrative approval procedures and delegation of power as important in stimulating businesses and creating a fair market environment, especially for small companies. He said private banks will also be piloted in the region.

The government will encourage state-owned companies to pilot reforms in the region, according to Li.

Meanwhile, he asked local governments to improve social welfare and invest more in public facilities such as transport, water projects, as well as renovation of railways and shantytowns.

The premier said local companies must attach greater importance to research and development, and that priority will be given to the development of newly emerging industries.

Regarding high-speed trains, nuclear power and high-voltage projects, equipment-making industries in which northeast China specializes, Li said more technological and product innovation is needed if the region is to maintain its edge in these sectors.

Agricultural modernization also has an important role to play in boosting regional growth, Li said, urging better farm produce processing, construction of grain storage facilities, and better ecological protection.

Coastal areas were also tasked with further opening up to northeast Asia to benefit from more cooperation.