NE China to shape base of key industries

Updated: 2004-05-29 13:44

China is to rejuvenate its traditional industrial base in northeast China by renovating and fostering a bunch of key and predominant industries, said an official with State-owned Assets Supervision and Administration Commission of the State Council (SASAC) in Beijing February 13.

Wang Xiaoqi, director of the Planning and Development Bureau ofthe SASAC, told a press conference that China is embarking on strategic adjustment and technical renovation for such key industries in northeastern China as oil, gas, iron and steel, auto and shipbuilding.

The Chinese government has pledged to spend more efforts on the major state-owned enterprises in these fields so as to make them more competitive groups in the international market.

These include the Anshan Iron and Steel Company (Angang), a steel giant in Liaoning Province, the First Automobile Works (FAW)Group Company, one of China's leading automobile producers in Jilin Province, the Daqing Oilfield in Heilongjiang Province and China Shipbuilding Industry Corporation.

In August 2003, China's central government drew up a strategy to resuscitate the old industrial base in the three northeastern provinces, aiming to build the northeast region into a national --and even world-class -- industrial base.

Wang said that China will invite more overseas investment from prestigious multinationals to increase the competitiveness of enterprises in equipment manufacturing, mini-cars, airplanes for civil use, helicopters, auto engines.

The three provinces of northeastern China have a total population of 108 million and cover an area of 789,000 square kilometers, dubbed the "industrial cradle of New China" and the region played a major role in the early industrial development of China.

The establishment of an industrial base in northeast China is conducive to maintaining social stability and guaranteeing political security, said Wang, adding that China is stepping up efforts to rejuvenate the military industries as well as the heavy industries.

Close