Premier Li Keqiang calls for further development of the Northeast
June 11, 2019 Category China News Round-up, Weekly
Chinese Premier Li Keqiang called for more reform and opening-up to stimulate market vitality and upgrade economic structure in the rust belt in Northeast China. He made the remarks at a meeting of the State Council, China’s government. He also urged government departments to offer more support to provinces in the Northeast in streamlining administration. The tax cuts and fee reduction policies must be implemented in full, and the country will make the region a priority in special transfer payments to localities, he said. The reform of state-owned enterprises (SOEs) must be moved forward, and more work must be done to expand the private sector, he said.
The Premier also called for the region to further promote opening-up in its coastal and border areas so that it
could take a leading role in cooperation with countries in Northeast Asia. He added that now is a crucial period for promoting economic transformation in the region. Premier Li underlined the importance of replacing old growth engines with new ones and enabling the transfer of industries from other areas. He also highlighted the significance of boosting employment in the Northeast, including measures to promote startups and innovation. Another crucial step is to encourage more talent to stay in the region, and local authorities must create an enabling environment for starting and doing business in the Northeast, he said.
The three provinces in the Northeast – Liaoning, Jilin and Heilongjiang – saw GDP growth of 5.7%, 4.5% and 4.7% last year, which is below the national average of 6.6%. Meanwhile, the three provinces have also seen a continuous outflow of working-age citizens, the China Daily reports.
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