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| China's West Experiences Rapid Economic Growth |
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Gross domestic product (GDP) of western China's six provinces, five
autonomous regions and the Chongqing Municipality reached 2,266
billion yuan (about US$273 billion) in total in 2003, according to
the Leading Group under the State Council for Development of the
Western Regions. The region as a whole logged 11.2 percent growth
for the year.
Inner Mongolia reported 16.3 percent GDP growth in 2003, the highest in China. Investment in fixed assets in the western region jumped 30.7 percent to 894.1 billion yuan (about US$107.7 billion) last year, with Inner Mongolia, Ningxia, Shaanxi, Chongqing and Guangxi leading the increase. Rapid rises were also reported in industrial production, and imports and exports. China initiated the western development strategy in 2000 to help the relatively backward western region catch up with the affluent east. The strategy is supported by a series of preferential policies for the development of the west, including more investment, preferential tax rates and flexible policies. (Xinhua News Agency March 22, 2004) |
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