Liaon­ing grows, but broad NE China re­vival elu­sive

Global Times US Edition - - BIZUPDATE -

The GDP of North­east China’s Liaon­ing Province in­creased 5.8 per­cent year-on-year in the first half of 2019, Liaon­ing Pro­vin­cial Bureau of Sta­tis­tics an­nounced on Wed­nes­day. But an­a­lysts said that an over­all re­vival of North­east China re­mains an elu­sive goal, be­cause the other two prov­inces in the re­gion are lag­ging Liaon­ing and the na­tional av­er­age.

North­east China, the coun­try’s old in­dus­trial base, con­sists of Liaon­ing, Jilin and Hei­longjiang prov­inces. The econ­omy of Jilin grew by 2.4 per­cent and Hei­longjiang grew by 5.3 per­cent yearon-year in the first quar­ter of 2019, ac­cord­ing to the Na­tional Bureau of Sta­tis­tics (NBS). Liaon­ing’s GDP was up 6.1 per­cent, the first time in four years it achieved 6-per­cent-plus growth.

“Liaon­ing’s growth rate, though lower than the na­tional av­er­age, is hard-won and shows an eco­nomic re­cov­ery,” Liang Qi­dong, re­searcher at the Liaon­ing Academy of So­cial Sciences, told the Global Times on Wed­nes­day. “It’s hard to say that North­east China has seen a sta­ble eco­nomic re­vi­tal­iza­tion as Jilin and Hei­longjiang have failed to re­cover,” said Liang.

Since 2014, North­east China has been strug­gling for re­vival. But it’s been hard to achieve. Hei­longjiang’s GDP growth in the first quar­ter of 2019 was the third-low­est among China’s 34 pro­vin­cial-level ad­min­is­tra­tive units, and Jilin placed last.

“The two prov­inces should learn from their peer. Liaon­ing achieved con­sec­u­tive in­creases in growth rate.” Liang said.

“Re­forms and mea­sures rolled out by cen­tral government in 2016 started work­ing to re­vi­tal­ize the re­gion, which was strug­gling with in­dus­trial de­cline, fall­ing in­vest­ment and a un­friendly busi­ness en­vi­ron­ment. A se­ries of sup­port poli­cies were re­leased, a free trade zone was set up in Liaon­ing, ad­min­is­tra­tion was stream­lined and the busi­ness en­vi­ron­ment im­proved,” the Xin­hua News Agency re­ported.

“Liaon­ing’s eco­nomic growth ben­e­fited from high-tech­nol­ogy in­dus­try, in­dus­trial trans­for­ma­tion and open­ing-up,” said Liang.

Tech­nol­ogy en­ter­prises con­tributed to Liaon­ing’s growth with more than 1,000 new high­tech­nol­ogy com­pa­nies es­tab­lished in Liaon­ing last year, Xin­hua re­ported. The Huawei Ar­ti­fi­cial In­tel­li­gence in­dus­try base and JD’S digital econ­omy in­dus­trial park were new­com­ers.

The added value of high-tech­nol­ogy man­u­fac­tur­ing above the pro­vin­cial scale in 2018 in­creased by 19.8 per­cent year-on-year, ac­cord­ing to the Liaon­ing sta­tis­ti­cal of­fice.

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