China’s northeastern region still lagging behind, report says

A quarter of enterprises in China’s northeastern region recorded profits in 2016, below the country’s average level, while the Beijing-Tianjin-Hebei region and Yangtze River Delta region still took the lead in China in economic performance in 2016. The gap reflected imbalanced regional development.

The proportion of enterprises in China’s northeastern region that generated profits was only 25.42 percent, the Beijingbased Economy Daily reported on Monday, citing an annual report released by the China Society of Market Supervision.

There have been long-standing concerns about the region’s business environment, and it appears that the revitalization of the northeastern region still has a long way to go.

However, the positive impact of regional coordinated development has already taken effect. Regions have maintained growth momentum and companies overall have recorded increased profits.

The report also showed a decrease in the number of unprofitable companies in 2016, while the figure for profitable enterprises also dropped, indicating mixed results for China’s economy in 2016.

The National Development and Reform Commission, the top economic planner, pledged on Monday to strengthen its efforts in improving the business environment in China’s northeastern region in 2018.