China’s western development strategy to gain new momentum
By
Yan Yunming, People’s Daily
A
guideline on advancing the development of western regions in the new era to
promote coordinated regional development was issued prior to China's annual
sessions of top legislature and political advisory body.
The
10,000 character document, issued by the Communist Party of China Central
Committee and the State Council, raised 36 measures to further develop the
western regions, including optimizing industrial and energy structures,
strengthening the building of transportation network, promoting open commercial
and trade cooperation, providing support for the financial sector, and
improving ecological environment management. These measures are expected to
bring about new major opportunities for the development of the western regions.
To
step up implementation of the regional development strategies and promote
large-scale development in the western regions is also covered by this year’s government
work report submitted to the National People’s Congress (NPC).
In
Ningxia Hui Autonomous Region in northwest China, the favorable taxation policy
for the western development has created a lot of benefits for local
enterprises.
Between
2011 and the first quarter of 2020, 2,995 enterprises under Ningxia’s tax
system have been covered by favorable taxation policies, and saw a total of 14.95
billion yuan in tax reductions and exemptions. These enterprises were mainly
coke-making enterprises, thermal power plants, currency and financial services providers and electronics
manufacturers encouraged to develop by the western regions and the nation at
large.
On
April 28, the Ministry of Finance announced it will extend the preferential
corporate income tax policies for certain companies located in West China until
the end of 2030.
“The
policy means a boost for enterprises in western region, as it plays a very good
role in promoting the overall improvement of the economic strength of the
region, adjusting and transforming the industrial structure of distinctive
advantages, cultivating the momentum for endogenous development, and improving
the anti-risk capability,” said Yang Yuanwei, head of the corporate income tax
department of Ningxia Hui Autonomous Region Tax Service,
State Taxation Administration.
The
western regions have made historic achievements in economic and social
development since the implementation of the Western Development Strategy 20
years ago.
The
GDP of the 12 western provinces, autonomous regions and municipalities
increased from 1.5 trillion yuan in 1999 to 20.5 trillion yuan in 2019,
accounting for 20.7% of the national total, 3.6 percentage points higher. The
average annual GDP growth in the western regions stood at 10.9%, higher than
the national average.
From
2012 to 2019, the rural poverty population in the western regions decreased
from 50.86 million to 3.23 million, and the incidence of poverty decreased from
17.5% to 1.1%.
By
the end of 2019, more than 90% of the poverty-stricken counties in the western
regions had been lifted out of poverty. Besides, the western regions had
returned a total of 9.13 million hectares of farmland to forest and grassland, further
expanding the forest coverage.
“The
COVID-19 epidemic has exerted a huge impact on China's economic and social
development, as well as regional development. This requires us to accelerate
the implementation of the regional development strategies, focus on promoting coordinated
regional development and step up the cultivation of growth drivers, so as to
effectively hedge against the epidemic’s impact," Cong Liang, secretary
general of the National Development and Reform Commission (NDRC), said on May
24.
To
promote coordinated regional development under new circumstances, it is
necessary to adjust and improve the regional policy system in accordance with
economic laws and accelerate the formation of a regional economic structure
featuring complementary advantages and high-quality development.
To
create a new pattern for the development of the western regions in the new era,
it is imperative to solve the problem of unbalanced and insufficient
development and give full play to the comparative advantages of the western
regions.
The
development of the western regions and the Belt and Road Initiative are synergetic
and complement each other. With the rapid development of the western regions, the size of
the economy has expanded, and production, logistics,
warehousing, exchange and other capabilities have also been further improved.
This will consolidate the foundation for Belt and Road cooperation and expand
its influence.
China-Europe freight train 49074 leaves Xinzhu
Railway Station in Xi'an, northwest China's Shaanxi province for Nepali capital
Kathmandu, May 22. Photo by Tang Zhenjiang/People’s Daily Online
China’s western development strategy to gain new momentum
Reviewed by PEOPLES MAIL
on
15:20
Rating:
No comments: