China’s economic planner will roll out its Northeast Revitalisation Plan 2.0, a package of about 130 projects with total investment of 1.6 trillion yuan (HK$1.87 trillion), over the next three years to help the region, Chinese media reported earlier this week.The combination of a commodities bust and then a real estate bust is too much for the region to recover from, at least when the government is propping up bankrupt enterprises.
However, there are growing doubts over whether any government-led spending plan, in which some of the funds are expected to be paid by non-state investors, can be effective for a region plagued by commodity price drops, inefficient state businesses, rampant corruption and an exodus of young talent to other parts of China.
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