Hebei's Capacity Reduction Causes GDP Growth Slump: Second-Worst Nationwide in Q1

2014-07-08 646 0人评论

From June 25 to July 5, the State Council dispatched 8 inspection teams to 27 central departments and units and 16 provinces (autonomous regions and municipalities) to conduct comprehensive inspections on the implementation of key tasks for 2014 outlined in the Government Work Report.

China Railway Corporation reported to the second inspection team that railway construction investment totaling 800 billion yuan, 80% of which is directed to the western region, has attracted much attention. In the first five months, national railway construction completed investment of 140.4 billion yuan, 23.9% of the annual plan, up 3.3% year on year.

The National Development and Reform Commission reported to the first inspection team that 95% of the 457.6 billion yuan in central investment had been allocated by the end of June. The direction of state funds will effectively guide social capital. Huang Min, director of the NDRC's Department of Fixed Asset Investment, said the first batch of 80 demonstration projects encouraging social investment is progressing smoothly and will break ground intensively within the year. Among them, the West Inner Mongolia-to-Central China railway project has already brought in 70% social capital and is expected to start construction along the entire line in the third quarter.

Hebei Province, faced with the challenges of reducing overcapacity and tackling air pollution, saw its GDP growth plunge to 4.2% in the first quarter of this year, slightly higher than Heilongjiang and second-worst nationwide. How the locality properly handles the relationship between stabilizing growth and adjusting the structure is the focus of on-site inspection by the sixth inspection team. Hebei Governor Zhang Qingwei told the inspection team that the province will resolutely cut overcapacity and persevere in structural adjustment. Hebei has proactively raised elimination standards and completed the capacity elimination tasks assigned by the state for the 12th Five-Year Plan two years ahead of schedule.

Beijing Focus

State Council sixth inspection team inspects Beijing

From the 2nd to the 5th, the State Council's sixth inspection team conducted inspections in Beijing. Party Secretary Guo Jinlong and Deputy Party Secretary and Mayor Wang Anshun held discussions with Yang Chuantang, head of the sixth inspection team and Minister of Transport, and deputy head Dou Yupei, Vice Minister of Civil Affairs, and their delegation.

Guo Jinlong said that the foremost requirement for doing a good job in the capital is to be politically minded and ensure that central government directives flow unimpeded in Beijing. We must take General Secretary Xi Jinping's series of important speeches, especially the important speech made during his inspection of Beijing, as the guiding principle, continue to deepen reform, and strive to do a good job in treating urban diseases, adjusting and relieving non-capital core functions, strengthening ecological and environmental development, and promoting the coordinated development of Beijing, Tianjin and Hebei, so as to promote Beijing's sustainable development.

Yang Chuantang noted that the inspection team believes the Beijing Municipal Party Committee and Municipal Government have implemented the decisions and arrangements of the Party Central Committee and the State Council to the letter, especially by comprehensively and promptly implementing the spirit of General Secretary Xi Jinping's important speech during his inspection of Beijing. The decisions and arrangements made by the Party Central Committee and the State Council are being advanced in an orderly, vigorous and effective manner, with remarkable results in promoting reform, substantive steps in structural adjustment, and many highlights in improving people's livelihood.
 

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