China plans to input 80 billion yuan in ten key projects in
western regions this year, and considers drafting law on western
region promotion to bolster its development, senior official said
at a press conference in Beijing Thursday.
Li Zibin, deputy director of the Office of the Leading Group for
Western Region Development of the State Council introduced the
latest development of the region and government measures at the
conference hosted by the State Council Information Office.
Li is also Vice-Minister of the State Development and Reform
Commission.
Ten Key Projects
Li said key projects in the western region have been further
strengthened. A total of 80 billion yuan will pour into another ten
key projects in western region by the end of the year.
In the first half of this year, the west-to-east electricity
transmission project newly installed 600,000 kw of power-generating
capacity and increased 2,400 kilometers of transmission lines. The
pipeline for transmitting natural gas from the west to the east was
completed ahead of schedule. Highways open to traffic were extended
by about 6,000 kilometers. Nearly 60percent of investment of the
key water control projects were completed.
He said by the end of August, the main track of the
Qinghai-Tibet Railway had been extended by 232.6 kilometers this
year.
Better Business Environment
Though foreign direct investment (FDI) flowing into west China
now accounts for a mere 4 percent of the country's total, Li Zibin
still expressed his optimism about the future foreign investment in
western regions.
He noted that west China had abundunt energy, tourism and
mineral resources. Besides, its transport and telecommunications
facilities are improving.
"These will give investors good returns and create a 'win-win'
situation," he said.
The country has been allocating a majority of loans from foreign
governments and international financial organizations to the
development of its poor but vast western part, according to Li.
China consider law on west region promotion
Li said that China is drafting a law regulating measures and
activities in promoting the western region, both in economy and
social development.
The National People's Congress (NPC) Standing Committee, China's
top legislative body, has listed the law drafting as its five-year
law-making plan.
"We need to have a law regulating guiding policies, development
strategies, key missions and others concerning the western region
development," said Li.
The first draft of the law on promotion for western region
development has been released for discussion and advice, and will
soon submit it to the State Council Legislative Affairs Office.
Any draft law in China will be thrice run the gauntlets of top
legislators, who convene bimonthly, before final approval.
(Xinhua News Agency October 14, 2004)