New economic belt to boost W China

By Qin Zhongwei (chinadaily.com.cn)
Updated: 2009-07-10 18:06

A strategic cooperation agreement among industry and commerce federations from Xi'an, Chengdu, and Chongqing was inked yesterday, in a nod to the establishment of a new economic belt as the fourth strongest area of China's rapid growth, the Chongqing Times reported Friday.

According to the agreement, the three cities will join hands in discussing and offering more convenient financial services and capital-raising policies to small and medium-sized companies.

As more and more companies, including Intel, move their plants west, officials have reason to believe the next wave of rapid growth and prosperity is emerging.

Wang Wenjing, vice-chairman of National Federation of Industry and Commerce, said he is optimistic the new triangle will be the future high growth area.

Many netizens are applauding the plan, but some worry it may be hard for the "triangle" to play its role without efficient traffic, as Xi'an is far from the other two cities.

During this year's CPPCC and NPC meetings, Huang Qifan, the vice-mayor of Chongqing, firstly initiated the idea to mobilize the western provinces that cover 47 cities to boost the development of the region.