China's Western Development Makes Good Start

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Last updated at: (Beijing Time) Tuesday, December 18, 2001

China's Western Development Makes Good Start

The fixed asset investment growth rate for January-October for China's western regions has hit 23 percent, 5.6 percent higher than the country's average, a Chinese official said Monday.

The state has invested over 70 billion yuan (8.48 billion US dollars) in the western regions, 43 billion yuan (5.21billion US dollars) of which comes from government bonds.

Fixed asset investment growth rate: 23%

The fixed asset investment growth rate for January-October for China's western regions has hit 23 percent, 5.6 percent higher than the country's average, a Chinese official said Monday.

Annual GDP growth rate: 8.5%

Li Zibin, deputy director of the office of the Leading Group under the State Council for Development of Western Regions, said at a seminar in Chengdu that the annual GDP growth rate of the 12 western provinces, autonomous regions and municipality is expected to reach 8.5 percent this year.

Investment

The state has invested over 70 billion yuan (8.48 billion US dollars) in the western regions, 43 billion yuan (5.21billion US dollars) of which comes from government bonds.

Projects under sound operation

Major projects such as the west-to-east power transmission line and the west-to-east gas pipeline have made much progress. Ecological projects such as protection of wild woods and restoration of grassland have also been carried out smoothly.

More efforts needed

Li said it is most important to implement technological innovations in the western regional development, and a well-planned human resources development strategy would give an additional boost to the economy.

Scores of experts with the State Bureau of Foreign Experts Affairs and an American association attended the seminar on "western regions construction and sustainable development."

Western Development Program Pays Off

The gross domestic product (GDP) of 12 provinces, autonomous regions and municipalities in western China increased by 8.7 percent in the first half of this year thanks to China's drive to accelerate western development.

Investments in fixed assets soared 25 percent in the first three quarters of the year, much higher than the national average growth rate, Ning Zhe, an official with the State Development Planning Commission, said at a training course for ethnic cadres which opened Saturday in Haikou, capital of south China's Hainan Province.

More than 1 million hectares of low-yielding farmland have been converted into grassland and 910,000 hectares of hill or waste land have been planted with trees. Indiscriminate felling of trees at the upper reaches of the Yangtze and Yellow rivers has come to a halt.

Construction of 10 key projects began in western China last year at a combined cost of 20 billion yuan. More projects were begun to be built this year, which will cost about 300 billion yuan.

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