China's west experiences rapid economic growth
www.chinaview.cn 2004-03-22 09:34:58
BEIJING, March 22 (Xinhuanet) -- China's western regions experienced 11.2 percent economic growth in 2003, propelled by the western development strategy.
Gross domestic product (GDP) of western China's six provinces, five autonomous regions and the Chongqing Municipality reached 2,266 billion yuan (about 273 billion US dollars) in total in 2003, according to the latest statistics of the Leading Group under the State Council for Development of the Western Regions.
Among these western regions, Inner Mongolia reported 16.3 percent GDP growth in 2003, the highest in China, the statistics reveal.
They also show investment in fixed assets in these western regions grew 30.7 percent to 894.1 billion yuan (about 107.7 billion dollars) last year, with Inner Mongolia, Ningxia, Shaanxi,Chongqing and Guangxi leading the growth.
Industrial production, and imports and exports also posted fastgrowth, according to the statistics.
China initiated the western development strategy in 2000 to help the relatively backward western regions catch up with the affluent eastern regions. The strategy is supported by a series ofpreferential policies for the development of the western regions, including more investment, preferential tax rates and flexible policies. Enditem
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