Others News
- Govt. to boost processing in central, western areas
Date: 27-Nov-2007 Sources: (Shenzhen Daily)
THE Chinese Government had launched a new plan to boost the development of the processing sector in the country's central and western areas, a spokesman with the Ministry of Commerce (MOC) said.
The plan aims to open wider the central and western areas to the outside world and narrow the yawning regional disparity, Wang Xinpei, the ministry spokesman told a press conference last week.
According to the plan, nine cities in the country's central and western areas have been selected as areas to receive processing and technology projects from economically developed eastern regions.
The nine cities are Nanchang and Ganzhou in Jiangxi Province, Wuhan in Hubei Province, Hefei and Wuhu in Anhui Province, Taiyuan in Shanxi Province, Xinxiang and Jiaozuo in Henan Province, and Binzhou in Hunan Province.
Financial support such as loans with favorable interest rates and bond underwriting services will be granted to the selected areas to facilitate processing transfers.
Wang said more cities that can show regional advantages and cost competitiveness would be added to the program, which was released by the MOC and the China Development Bank, one of the nation's three policy banks.
Exports in the processing sector from the central and western areas accounted for only 2.8 percent of the country's total, said Wang.
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