Northeast China's Liaoning Province, a traditional heavy industry
base, is managing to boost economic growth despite the intensifying
impact of the rampant Severe Acute Respiratory Syndrome (SARS)
epidemic.
In
the first four months of this year, Liaoning's provincial GDP
growth rate increased 12.4 percent on the same period of last year
- the fastest in the past ten years, despite the onset of SARS in
April.
Secondary industry realized an added value of 77 billion yuan
(US$9.27 billion), up 13.9 percent on the same period last
year.
Xu
Weiguo, Vice-Governor of Liaoning Province, attributed such rapid
growth to the importance attached to both preventing and curing
SARS and developing the local economy.
Local planning head Zhong Jiquan said Liaoning had stabilized its
economy and accelerated economic growth by tapping the less
affected core industries of metallurgy, petrochemistry and
equipment manufacturing.
Meanwhile, Liaoning had reformed traditional industries with new
and high technologies and opened industrial sectors to the outside
world, said Zhang Yaojun, director of Liaoning's Provincial
Economic and Trade Commission.
So
far, the province has successfully instituted 80 major industrial
technological reform projects and invested 6.19 billion yuan, up
22.9 percent on last year.
In
March, Huacheng Golden Cup Company signed an agreement with BMW
from Germany to establish a joint venture, BMW's first in Asia.
The venture has a total investment of 450 million euros, with a
projected annual production capacity of 30,000 BMW sedans.
Shenyang Liming Co. Ltd. has reached an agreement with GE of the
United States for a joint venture program, with an investment of
US$50 million to produce gas turbine parts.
(Xinhua News Agency May 14, 2003)