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China's north-east in search of new growth model

Local governments are heavily in debt and are at a loss on how to adapt to the "new norm" of value-added growth
Wednesday, November 11, 2015 - 05:50

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The state-owned enterprises in Heilongjiang have been reluctant to let go of their resources and the few privatisation projects have failed to deliver. Many closed factories are still waiting for a new owner to redevelop them.

Beijing

ABANDONED stucco and fibreglass unfinished housing decorations litter Xuefu Hany's workshop in Qiqihar, a second-tier city in north-east China's Heilongjiang province. A few years ago, the company, which makes polyester balconies and antique-style columns for real estate

sentifi.com

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