China unveils policies to revitalize Northeast

%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Chinese%20central%20government%20announced%20an%20action%20plan%20to%20assist%20the%20northeastern%20region%27s%20staggering%20economy%20with%20a%20list%20of%20new%20measures.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20plan%20aims%20to%20free%20up%20private%20businesses%2C%20deepen%20reforms%20of%20State-owned%20enterprises%20%28SOEs%29%2C%20develop%20modern%20agriculture%2C%20renovate%20urban%20rundown%20areas%20and%20launch%20dozens%20of%20infrastructure%20projects%20in%20the%20provinces%20of%20Liaoning%2C%20Jilin%20and%20Heilongjiang%2C%20according%20to%20the%20new%20measures%20announced%20Tuesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%2035%20new%20measures%2C%20listed%20in%20a%20document%20by%20the%20State%20Council%20on%20its%20website%2C%20came%20as%20Northeast%20China%20saw%20the%20slowest%20economic%20growth%20among%20China%27s%20provincial%20areas%20during%20the%20first%20half%20of%20this%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20speed%20up%20the%20construction%20of%20eight%20rail%20lines%20and%20build%20or%20expand%2010%20regional%20airports%20in%20the%20region%2C%20the%20document%20said.%3CBR%3ESOEs%20are%20encouraged%20to%20sell%20part%20of%20their%20equities%20to%20private%20and%20foreign%20investors%20to%20build%20a%20mixed%20ownership%20system%20and%20pay%20for%20the%20reforms.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EA%20new%20State-owned%20regional%20investment%20company%20will%20be%20established%20to%20hasten%20the%20reorganization%20of%20poorly%20run%20SOEs%20in%20the%20region%2C%20the%20document%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20central%20government%20will%20support%20emerging%20industries%20including%20robotics%2C%20gas%20turbines%2C%20advanced%20marine%20engineering%20equipment%20and%20integrated%20circuits%2C%20as%20well%20as%20expanding%20the%20service%20industry%20of%20the%20region.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EFor%20traditional%20sectors%20such%20as%20agriculture%2C%20the%20document%20said%20the%20northeastern%20provinces%27%20status%20as%20a%20core%20grain%20production%20base%20will%20be%20strengthened.%20Grain%20storage%20and%20logistical%20facilities%20will%20be%20improved.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20central%20government%20will%20fund%20the%20building%20of%20affordable%20housing%20and%20grain%20logistics%20facilities%2C%20included%20in%20a%2060-billion-yuan%20%28%249.7%20billion%29%20new%20credit%20reserve%20for%20shanty%20town%20renovation%20by%20the%20China%20Development%20Bank.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20document%20also%20named%20a%20few%20power%20transmission%20projects%2C%20nuclear%20power%20plant%20projects%20and%20heating%20projects%20to%20be%20initiated%20as%20part%20of%20a%20clean%20energy%20network%20in%20the%20region.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EOnce%20China%27s%20industrial%20base%2C%20the%20northeastern%20provinces%20relied%20heavily%20on%20SOEs%20to%20drive%20local%20economy%20but%20they%20fell%20short%20of%20the%20national%20economic%20growth%20of%207.4%20percent%20in%20the%20first%20half%20of%20the%20year%2C%20with%20Heilongjiang%27s%20GDP%20ranking%20at%20the%20bottom%20with%20an%20increase%20of%20just%204.8%20percent%20during%20the%20period.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28China%20Daily%29%3CBR%3E%3C/FONT%3E%3C/P%3E