State Council to further revitalize China’s Northeast

The State Council will further implement strategies to revitalize the regions in Northeast China, according to a State Council circular on Nov 16.

Efforts will be made to transform government functions, further promote streamlining administration and delegating powers to lower-level governments, and optimize public service reform in Heilongjiang, Jilin, and Liaoning provinces.

To optimize investment and business environment in the region, negative lists will be established regarding management of enterprise investment projects and market access.

Reform will be carried out in the region’s State-owned enterprises, with pilot projects being implemented and cooperation with local governments strengthened. Each province of China’s Northeast region will select 10 to 20 local State-owned enterprises to carry out pilot reforms in mixed ownership.

Private economy will also be promoted, and efforts will be made to create a favorable environment regarding policy measures, market, finance, innovation, and law, enhancing private enterprises’ confidence in development.

By the end of June 2017, at least one private bank will be established in Northeast China.

Traditional industries will be further upgraded, and efforts will be made to implement pilot projects for “Made in China 2025”, increasing high-level manufacturing and promoting international cooperation.

Reforms will be carried out in the region’s major enterprises to gradually reduce overcapacity, and resource-oriented cities such as Jixi, Hegang, Shungyashan, and Qitaihe of Heilongjiang province will implement transformation plans.

To foster new driving forces, support will be enhanced for the region’s information industry and related infrastructure, new industries based on “Internet Plus”, internet platforms of mass entrepreneurship and innovation for manufacturing industry, and e-commerce development.

A demonstration base of mass entrepreneurship and innovation will be constructed in Shenyang, and platforms for mass entrepreneurship and innovation will be set up in Harbin and Changchun.

In addition, local governments are encouraged to establish entrepreneurship investment funds for emerging industries.

Efforts will be made to promote major infrastructure construction in sectors such as railway, highway, airport, water conservancy, agriculture, and energy.

Guidance will be provided to Liaoning province to draft an overall plan for free trade zone to expand international cooperation.

The central government will increase financial backing to the region and direct financial institutions to strengthen credit and loan support to competitive enterprises in the region.