China plans to actively develop a service industry in the country's Yangtze River Delta.
According to a document made public Tuesday by the State Council, the government plans to make the service sector a leading part of the delta area by 2020.
The strategy will deal with rising labor and environmental costs, together with the appreciation of Chinese money, which are causing a major industrial shift. Some manufacturers are moving out of the region to make ends meet.
The government also vowed to turn Shanghai into an international financial and shipping center, according to the blueprint published on the official website of the Chinese Government (www.gov.cn).
With a population totaling 120 million and advantageous geographical position, the Yangtze River Delta is home to the portcity of Shanghai, Zhejiang Province, which is famous for its private economy, and Jiangsu Province, which is renowned for its electronic and information technology sectors. The two provinces are also noted for their export-oriented industries.
Source:Xinhua
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