Saturday, April 11, 2015

China premier says economy faces growing downward pressure


http://www.reuters.com/article/2015/04/11/us-china-economy-northeast-idUSKBN0N203S20150411


Li also called for speeding up reforms in the northeast, a center of mining and heavy industry that has been lagging in growth.


The central government will funnel more support to the region for infrastructure, agriculture and equipment export, he said.


Known as China's rust belt, the northeast was plagued by widespread layoffs in the 1990s, when the government forced state factories to shut en masse to cull inefficient industry.


Li called for the timely launch of major infrastructure projects in the region in areas such as transport and water conservation with the support of financial institutions.

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