The central Government will announce in October a full set of measures to push ahead the massive 'go west' development programme, a senior official said yesterday.
Li Zibin, vice-minister of State Development and Planning Commission, said the State Council had studied proposals from local governments and was prepared to put forward a comprehensive set of policies in October.
'The policies would cover a wide spectrum of issues including finances, taxation and land provision for relevant projects,' said Mr Li, who is also deputy head of a special office set up to oversee the 'go west' programme.
Mr Li, formerly the mayor of Shenzhen, was quoted by Xinhua as saying the new policies would also cover investment, pricing, use of foreign capital and foreign trade.
Beijing announced the 'go west' scheme last year, promising to inject billions of yuan to reshape the economy of nine provinces and one city in the northwest. Although senior officials have said the plan would offer lucrative business opportunities, many domestic and foreign investors want to see more concrete and comprehensive details in support of the programme.
'Special attention would be given to state enterprise rejuvenation. Enterprises with potential will use domestic and foreign capital to reform their business so that they can become the key players in the 'go west' programme,' Mr Li said.
