Date
18 December 2017
Premier Li Keqiang expects the economic belt to help boost domestic demand and underpin sustainable economic growth. Photo: Bloomberg
Premier Li Keqiang expects the economic belt to help boost domestic demand and underpin sustainable economic growth. Photo: Bloomberg

Premier unveils blueprint for Yangtze River economic belt

Premier Li Keqiang has called for the creation of an economic belt along the Yangtze River to boost domestic demand and underpin sustainable economic growth.

Li discussed the blueprint with officials at a meeting in Chongqing on Monday, according to a statement posted on the government website.

The plan will involve 11 areas including Shanghai, Jiangsu, Zhejiang, Anhui, Jiangxi, Hubei, Hunan, Sichuan, Chongqing, Yunnan and Guizhou, the statement said.

The Yangtze River traverses China’s eastern, central and western regions, linking the coast with the inland areas, and has unique strengths and huge potential in spurring economic growth, Li was quoted as saying. The plan can provide huge new development stimulus for more than a fifth of the country’s land area and about 600 million people, he said.

Li also expects the economic belt to help deepen reforms, break administrative barriers and build a modern market system.

Port-related stocks such as Shanghai International Port (600018.CN) and Nanjing Port (002040.CN), as well as construction-related companies like Huaxin Cement  (600801.CN), will benefit from the move, analysts were quoted as saying.

– Contact HKEJ at [email protected]

KZ/JP/CG

 

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