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News

Western China remains development priority

26 September 2012
Foreign investment will continue to be directed into China’s western region, although the government will be more selective on what types of investment are allowed, reported China Daily.

Fan Hengshan, head of the National Development and Reform Commission’s department of regional economy, said western region remained the most underdeveloped in the country and therefore they are still “a top priority in work to bring balance to regional development”.

South Korean companies are among the most active in the region, according to the article. A manager from the Chengdu branch of Korea Development Bank said that local governments in the western region are now choosier than before about which Korean investments they accept, while investment opportunities in coastal areas are becoming ever scarcer.

Transport infrastructure will remain a priority in plans to promote the western region’s economy, according to Mr Fan.

     
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