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Old Industrial Base Aims at Open Economy
Liaoning Province in northeast China, an old and pivotal industrial base, will try to establish an open economy within the coming five years through all- round foreign cooperation, said vice governor Gao Guozhu.
The province, where will encourage foreign investment, foreign trade, international shipping, international meetings and exhibitions as key sectors featuring its open economy, the official said.
A total of 75 billion US dollars in export has been targeted for the coming five years, at an annual growth rate of 13 percent.
Meanwhile, the province will try to realize 35 billion dollars in contractual foreign investment.
Also targeted are cooperation programs between at least 100 large- and medium-sized state-owned enterprises and the top five hundred companies around the world.
To achieve the targets, the province has further expanded sectors for foreign investment and started preparations for incurring foreign capital in the sectors of travel agencies, accounting, auditing and law.
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