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Coastal areas to be focus of economic growth

Updated: 2007-03-07

The strategy of "Five Points and One Line" will help forge a new growth engine for economic development in the coastal province of Liaoning, a top provincial official has said.

The strategy, which is also part of the nation's adjustment of regional economic development during the 11th Five-Year Program period (2006-10), indicates development of five key industrial areas and one road to connect the coastal cities in the province.

Li Keqiang, secretary of the Communist Party of China's Liaoning Provincial Committee, pledged at the annual provincial people's congress early in January that Liaoning will accelerate coastal economic development on the lines of the strategy, initiated in 2005.

"We will take advantage of the country's regional economic adjustments to push forward revitalizing old industries and give priority to economic development along the coastal areas," Li said.

He believes that rapid development in coastal areas will help improve the investment environment in the province's interiors.

"Liaoning has a coastline of more than 2,200 kilometers. Thus it has much potential to develop into another economic powerhouse in the country's coastal areas," Li added.

As the province is currently revitalizing its old industries, Li pointed out that the "Five Points and One Line" strategy will help shift its economic growth from the inner regions to the coastal areas.

"Almost two thirds of the inner areas of the province are located within 100 kilometers of the coastline. Therefore, we will focus on development of harbor industries and coastal economy in the years to come," explained Li.

He also said rapid development in coastal areas will provide strong support for the province to revitalize its old industries.

"Rapid coastal development will follow the implementation of the "Five Points and One Line" strategy, and will in turn support rural progress in tune with the province's attention towards a new socialist countryside."

Li said the implementation of the strategy will form an industrial belt focusing on manufacturing as well as new and high-tech industries.

Liaoning will earmark huge investments to facilitate development of infrastructure along the coastal areas in the years ahead.

"We will build a large transport network to better connect the coastal areas and inner parts, and link other provinces in Northeast China as well, in order to forge a strong support to trade and economic development," Li said.

Meanwhile, establishment of the Dalian Dayao Bay Bonded Zone, approved earlier by the State Council, will play a significant role for implementation of the "Five Points and One Line" strategy, Li asserted.

The bonded zone currently enjoys the most preferential policies from the central government for investment, according to Li.

"We will spare no effort to upgrade the investment environment and push forward key infrastructure development, in a bid to attract foreign capital flow and seek multiple investments into State-owned and private enterprises," he said.

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