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Northeast China to renew growth via reform and opening up

Updated: Apr 13,2015 1:30 PM     Xinhua

CHANGCHUN — China’s northeastern provinces should speed up reform and opening up efforts to renew growth and seek sustainable development, Premier Li Keqiang said on April 10.

The northeastern region is critical to China’s development as it boasts important industrial hubs and is a major grain producer, but now it is facing increasing downward pressure due to the volatile international market, sluggish domestic demand and slowness in systemic and institutional reforms, Premier Li said at a meeting attended by leading officials of Jilin, Liaoning and Heilongjiang provinces.

Li urged local governments to prioritize steadying growth, boosting employment and improving growth quality through more reform and opening up steps.

Local governments should offer preferential policies to encourage innovation and entrepreneurship and promote pilot systemic reforms in major state-owned enterprises and support the growth of micro, small and medium-sized firms, including private enterprises, Li said.

Li called for timely launch of major infrastructure projects in transportation, water conservancy and urban underground pipe networks with the support of policy-backed financial institutions.

Northeast provinces should foster the growth of emerging industries such as tourism, old-age care, health and e-commerce, Li said, adding the revamping of shantytowns must be sped up.

China is mulling an industrial investment fund to renew the region’s growth to encourage local enterprises to go overseas for international capacity cooperation, Li said.

The central government will increase support to the region in developing infrastructure, agriculture modernization and equipment export, Li added.