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China will promote integration of the Yangtze River Delta region
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15:34, October 17, 2008

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Press conference held by the Information Office of State Council on Oct 16 touched on China's efforts to push forward reform and opening up of the Yangtze River Delta region and the steps to promote the development of the economic society. It was leaked from the conference that the GDP of the Yangtze River Delta region accounts for 22.5 percent of the country's total, fiscal revenues take up 31.5 percent of China's total volume, and the region attracts over 35 percent of the country's total foreign investment on a year-on-year basis.

Considering the strategic position the region is holding in the current phase of China's economic development, the State Council last month issued a guiding document—the Guidelines for stepping up the reform and opening up of the Yangtze River Delta region and the development of the economic society--, attaching more importance to the region and pinning more hope on the prospects of the region's development.

According to Du Ying, Vice Director of the National Development and Reform Commission (NDRC), the new hope or expectations exerted upon the region can be generalized into the four aspects: First expectation: to lead the trend of economic development, which requires the region to take the lead in achieving the national goal to build up an all-round well-to-do society by 2012. Second expectation: to carry out the Scientific Outlook on Development, which calls for a joint effort by the region to transform its economic development modes, and push ahead with its economic restructuring in a strategic way, meanwhile, the region will have to lead the way in the scientific development by strengthening its abilities of innovation and self reliance and enhancing its awareness of energy conservation and environmental protection.

Third expectation: to forge the integration of the entire region, which means the Yangtze River Delta region, covering an area of two provinces and one municipality, namely, Jiangsu Province, Zhejiang province and Shanghai, will have to break down the administrative barriers, encourage the free flow of all the productivity-related elements, and further promote the integration of infrastructure facilities and social management crossing the provincial borders. Fourth expectation: to advocate harmonious development, which indicates the region will have to step up its efforts to settle the problems of people's livelihood, and quicken its pace to build up the systems ensuring the development of social causes and social securities.

Overshadowed by the faltering global economy and the U.S financial crunch, Shanghai's foreign trade exports went up by 22.8 percent in the year's first three quarters, with the growth rate dropping by 2.3 percentage points compared to the previous two quarters. Likewise, the growth rate of foreign trade transaction volumes in Jiangsu Province also went down by 4 percentage points in the first three quarters this year standing at 23.9 percent. The first three quarters in the neighboring Zhejiang Province also saw a general decline of economic growth rate.

Mr. Du Ying released that the State Council would proceed to attach great importance to foreign trade transactions, and the growth rate and value of the industries and enterprises in the coastal areas, and in the mean time, show great concerns over the declining profits by some industries. The government is currently considering working out a series of relevant measures to reverse the downward economic tendency. Du Ying said the authorities in the Yangtze River Delta region deemed the unfolding global financial crisis to be not only a tough challenge to the region, but a momentous opportunity to upgrade its industrial structures and transform its economic growth modes.

By People's Daily Online



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