Chinese Premier noted the need for the revival of “factory belt” in Northeast China

Almaty. October 20. Silkroadnews – Chinese Premier Li Keqiang said China is determined to use the reform and innovation to upgrade the region’s “rust belt” (“factory belt”) in North-East China, “Xinhua” agency reports.

“Boosting the revival of Northeast China is critical to promote the broad economic restructuring, regional development and improvement of the population well-being”, the publication says quoting Li Keqiang.

Provinces of Liaoning, Jilin and Heilongjiang in Northeast China became the first territories of the country affected by industrialization. Traditional production industries in these provinces include the steel, automotive, shipbuilding, aircraft building and oil refining ones.

However, this industrial base experiences a crisis due to a sharp slowdown in growth compared with the rest of the country, GDP growth rate here is markedly low compared to the other regions of the country.