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West Developing Strategy Good Chance for SOE Reform
Vice Premier Wu Bangguo has said that the west-developing strategy has brought about good opportunities for the restructuring of local state-owned enterprises (SOE) in China's underdeveloped areas.
The official made the remark during an investigation trip in the southwest provinces of Yunnan and Guizhou from June 29 to July 5. During his stay, Wu visited nine major local SOEs and talked with local officials and managers.
Calling the strategy a significant move of the central leadership, the vice premier urged western provinces and ethnic autonomous regions to fully recognize its political and economic importance.
Efforts must be made to enhance the living standards of local people so that they can truly feel the generosity of the Party, the correctness of central policies, and the advantages of socialism, he said.
He noted that the strategy will require the long, hard effort of several generations of local people to lessen the gap between the eastern and western parts of the country.
Yunnan and Guizhou, both rich in natural resources, should make use of their own advantages, the official said. Furthermore, he noted, the provinces are well developed in certain fields such as biomedicine and electronics.
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