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China to Quicken Industrial Restructuring in Western Region: Official
The State Economic and Trade Commission will increase efforts to quicken the industrial restructuring in China's western regions to boost the local economy.
Li Rongrong, vice minister of the commission made the remark Saturday in Chengdu when addressing the second session of the ongoing Western Forum of China this afternoon in the capital of southwest China's Sichuan Province.
Li said that the drive should focus on innovating traditional industries, promoting hi-tech industries and closing down enterprises lagging behind in competitiveness.
The Central Government will enhance its support of key enterprises with great development potential as well as the development of medium-sized and small enterprises, he said.
As for the reform of state-owned enterprises, the Central Government encourages non-public funds in the share-holding of state-owned enterprises, he noted.
Li concluded his speech by calling upon the western regions to take advantage of the opportunity of developing the west to rationalize the industrial structure and to upgrade products.
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