BEIJING Oct 18 China will rely on policy
support and reform steps to drive the rejuvenation of its
flagging northeast rustbelt, state radio quoted Premier Li
Keqiang as saying on Tuesday.
The government will take steps to spur private investment
and "nurture new growth points in consumption" to help stabilise
growth in the region, Li was quoted as telling a regular cabinet
"Policies and fiscal funds will tilt towards promoting
employment and safeguarding pension payments," Li said.
China has already rolled out a plan to revive its struggling
northeastern provinces over the next three years, including 127
major investment projects, according to state media.
Provincial authorities must promote innovations, deepen
reforms of state-owned firms and support public-private
partnerships (PPP) in investment projects, Li said.
The northeast, made up of the provinces of
Liaoning, Jilin and Heilongjiang, as well as the region of Inner
Mongolia, has struggled to cope with resource depletion and an
economic downturn that has devastated sectors like coal and
Liaoning's economy dipped 1 percent in the first half of
2016 from a year earlier, while economic growth in Heilongjiang
was 5.7 percent and that in Jilin was 6.7 percent, according to
China's economy expanded 6.7 percent in the first half.
(Reporting by China Monitoring Desk and Kevin Yao; Editing by