China stresses reform in revitalizing northeast industrial base

China highlights the role of reform in addressing difficulties facing the northeast region and revitalizing the old industrial base, according to a meeting presided over by President Xi Jinping.

By 2020, the northeast region in China should have achieved medium high growth and have met the target of building a moderately prosperous society, according to a statement released after the meeting, held by the Political Bureau of the Communist Party of China Central Committee on Wednesday.

Key sectors and enterprises should achieve international competitiveness by 2020 while industries in recession and regions that run out of resources should make significant breakthroughs in transforming growth patterns, the statement said.

In another ten years, northeast China should try to become an important region to help sustain growth of the overall economy. To be more specific, it should become the manufacturing base for advanced equipment and strategic base for major technological equipment. New raw materials, modern agriculture, and technological innovations should all find their bases there.

To achieve the goal, a more market-oriented mechanism should be created while structural reform should be advanced. Innovation and mass entrepreneurship in the region will be encouraged, and people's quality of life will be improved, the statement said.

Once China's industrial base, the northeast provinces in China experienced even faster economic slowdown than the rest of the country. Liaoning's GDP expanded only 2.6 percent during the first half of the year as the nation is striving to achieve the around 7-percent growth target this year. Endi