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Vice Premier Inspects Old Industrial Base
Tianjin, a traditional industrial base in China, should be revitalized through industrial restructuring and optimization, said Chinese Vice-Premier Wu Bangguo.
Wu made the remark during an inspection of the municipality neighboring Beijing from August 15 to 17.
He said that Tianjin should be market-oriented when restructuring its industries and products. A competitive mechanism selecting the superior and eliminating the inferior should be practiced to forge new market space.
The vice-premier urged Tianjin to be more dependent on science and technology in renovation of traditional industries and make better use of foreign investment. Tianjin should cultivate a group of big companies through reshuffling, coalitions, mergers or share holdings.
He stressed that a social security system should be improved at an early date and supervision over safe production should be strengthened.
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