Multinationals to Play Big Role in Developing China's WestA forum opened Xi'an, capital of Shaanxi Province April 5 on developing China's poor western regions, with the goal of attracting more funds for the purpose. Wang Mengkui, president of the Development Research Center of the State Council, addressed the forum. He said that the strategy to develop the vast western region is vital to China's modernization.He said that China's modernization started in the eastern regions, and will be completed in the west. Li Jianguo, secretary of the Shaanxi Provincial Committee of the Chinese Communist Party, noted that Shaanxi, as a leading province in the western region, will seize this great opportunity. The forum will discuss cooperation between the east and the west, environmental protection, and reform of state-owned enterprises. On the first day of a trade fair, multinationals signed agreements worth 560 million US dollars with their Chinese counterparts IBM has decided to pour 20 million US dollars into developing a world-class software platform with a Shaanxi company, and Toshiba of Japan will invest 2.53 million US dollars to produce refrigerators jointly with a Chinese firm. Meanwhile, 30 million US dollars was pledged by Adtom of the United States and several Chinese companies to be used to develop high-tech agriculture. Meiya Company will invest 600 million US dollars to establish a power station in the west. China is vigorously pushing ahead its ambitious program to develop its vast western region, and has invited foreign investors to join the campaign, offering preferential policies. |
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