 |
Inter-Province Cooperation Powers China's Sustained Development
Recent signs show that increased inter-province cooperation has provided a new impetus to the sustained development of the country's national economy.
Despite the slowdown in the world economy, China still achieved a 7.9 percent growth in gross domestic product (GDP) in the first half of the year, said sources from the State Statistics Bureau.
Over the past two years, China has surprised the world with a 7- 8 percent growth rate in GDP despite its negative increment in net export.
This was mainly the result of the macro policy of expanding domestic demand and the emerging economic cooperation between provinces, according to a report from the Asian Development Bank.
The provincial economic cooperation and communication among senior officials have increased in recent years, further lifting the potential market and promoting the investment within the country.
From western Xinjiang Uygur Autonomous Region to eastern Shanghai, northeastern Liaoning province to southern Guangdong, all regions in China have shown more zeal in cooperating with one other.
Economists say such large-scale provincial interaction helps China to resist the worldwide recession.
The eastern province of Jiangxi alone signed over 40 billion yuan (about 4.8 billion U.S. Dollars) cooperation protocols of intent in its three inter-province contacts.
The Chinese government attaches importance to the inter- province cooperation. The State Council called on the eastern provinces to participate in the development of the economically backward western regions two years ago.
Many key projects underway, including the transmission of natural gas and electricity from western to eastern regions, will tie the east closer to central and western China, according to some analysts.
In This Section
|