China's rust belt seeks new growth engines

A key meeting held by the Political Bureau of the Communist Party of China Central Committee in late December said the northeast region in China will be encouraged to achieve medium-high growth to help meet the target of building a moderately prosperous society by 2020.

The leadership promised more market-oriented administration, structural reform, stimulation for innovation and entrepreneurship, and improved quality of life in the region.

Sun Zhiming, an economist with Jilin Provincial Academy of Social Sciences, said the northeastern provinces are seeking new growth points in emerging industries in space, tourism, high-end manufacturing and biochemical engineering.

"Economic restructuring is a must for the three provinces to step out of difficulty," he said.