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Experts praise central China dev't plan

2009-09-24 10:58 BJT

Experts are already praising plans to boost Central China, saying these moves will stimulate domestic demand and speed up economic recovery. They are also predicting that the central regions could become the new engine for growth in the Chinese economy.

Early in 2004, Premier Wen Jiabao called for the promotion of Central China in his annual government work report. Since then, the central government has been working out how best to implement the plan to accelerate the region's development.

The launch of the plan on Tuesday was the first concrete step towards realizing the goals laid out in 2004. The move will play a crucial role in boosting domestic demand, as the central region's economy is mainly domestically-oriented.

The plan will build the central region into key bases for grain production, energy resources and equipment manufacturing, as well as a transportation hub. Experts say this will highlight the region's advantages of lower labor costs and land to carry out industrial transfers from coastal areas.

Sun Jiuwen, Professor of Renmin University of China said "If big cities in the central region are built into such a manufacturing base, this will provide an excellent opportunity for overseas investors. If they choose to invest in Central China, they will surely benefit from this choice."

China continues to promote regional development for a sustainable and more balanced economy.

Experts predict that with the implementation of the plan to develop Central China, the area will become another driving force for the country's economy as a whole.

Editor: Xiong Qu | Source: CCTV.com