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| Rejuvenation of Northeast Economy Stressed |
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China's top legislator Wu Bangguo on Tuesday stressed the role of innovation in rejuvenating northeast China's economy. "Liaoning province has a big potential for industrial development and has played a significant role in the country's overall economic development," said Wu, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, during his recent visit to the northeast industrial province. Wu chatted with technicians and workers in factories to see how scientific innovation has been applied, and inspected local communities and shabby housing on city outskirts. He called on local officials to seize the opportunity to develop the economy and strengthen the building of a harmonious society. Wu wished the locals a happy Chinese Lunar New Year, which begins from Feb. 18. Liaoning, with the other two northeastern provinces -- Heilongjiang and Jilin, was once considered the vanguard of China's state-owned industry. However, the region, also known as the "old industrial base" or rustbelt, is now home to thousands of inefficient state-owned manufacturing and heavy industrial firms and has been hit hard by economic reforms since the 1980s. Rejuvenating the region is a government priority. A slew of projects have been implemented to reinvigorate northeastern industries, including tax breaks, tax reductions and channeling foreign capital into the region. (Xinhua News Agency February 7, 2007) |
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