Jilin project seeks foreign investors
THE northeastern province of Jilin is seeking foreign backing for the construction of Tumen River Delta Development Zone on the borders of China, Russia and North Korea.
In an economic and technology fair held yesterday in the provincial capital, Changchun, overseas investment was sought for 202 infrastructure, industrial and real estate projects.
Officials said most of the projects required an investment of more than US$3 million.
Among them were transport and energy projects designed to turn the area into an international port and trading centre in 20 years.
The Tumen River Delta project is sponsored by the United Nations Development Programme and involves northern Asian countries including China, Mongolia, North and South Korea, Japan and Russia.
Total investment in the multinational effort is expected to be about $30 billion.
Key infrastructure projects offered during the trade fair included a railway system between two port cities in China and Russia and an expressway linking the area with other Chinese cities.
The fair is a follow-up to another initiative earlier this year by the province to attract foreign investment in Hong Kong, during which 352 co-operation projects were signed.
Jilin is one of China's industrial bases, with many old factories in desperate need of money to upgrade their equipment.
The provincial government in particular would like foreigners to help renovate the textile industry.
