The World Bank says it would like to work with the Chinese
government in 2006 in an effort to revitalize the old industrial
bases in northeast China.
The World Bank Country Director for China, David Dollar, says a
key economic index indicates the economy of northeast China is far
behind China's inshore provinces.
He has made the statement at a conference held recently in
Harbin, capital of northeastern
Heilongjiang Province.
Meanwhile, the World Bank has completed a strategic report on
revitalizing northeast China, in which it says China should
eliminate obstacles hindering foreign investment in industry and
transportation.
Moreover, the World Bank has suggested solving the financing
problems of medium and small sized companies through financial
market reforms.
The northeast region, including Heilongjiang,
Jilin and
Liaoning provinces, has contributed to China's first batch of
steel, machine tools, locomotives and planes after the founding of
the People's Republic of China in 1949, and still has potential in
all those fields.
Built in the 1950s, many of the traditional industrial
enterprises have become less competitive with some losing money
over the past 20 years when China shifted from its planned economy
towards the current reform and opening-up initiatives.
(Xinhua News Agency January 31, 2006)