China approves new economic zone

China will develop the coastal economic belt in the northeastern Liaoning Province in an effort to rejuvenate the traditional industrial base. The proposal was approved yesterday, Wednesday, by China's State Council, the Cabinet.

The area covers an area of 700 square km and includes ports of Dalian, Jinzhou, Yingkou, Huludao and Dandong, which opened navigation services to more than 140 countries and regions.

The industries in the area will focus on shipbuilding, petroleum refining, advanced equipment manufacturing, raw materials, high-tech industries and agriculture processing, according to the plan.

According to Lin Muxi, Economics School dean of Liaoning University, the zone will become an
important engine for the rejuvenation of the the northeast industrial base.

"Since the Chinese government started to develop eastern coastal cities such as Shenzhen and Shanghai, the Pearl River delta and the Yangtze River delta have seen rapid growth," he said. "Now the government is paying closer attention to the underdeveloped regions like Liaoning and Guangxi."