Financial Supports to the Rejuvenation of the Old Industrial Base of Northeast China

Supporting the reconstruction and reform of the old industrial base in Northeast China is a significant strategy made by the Central Government. With the strategy going into effect, it will be a great opportunity for the economy and finance development in Northeast. Based on the financial facts in Northeast China and the analyses on the key issues concerning finance and the rejuvenation of the old industrial base, countermeasures in five aspects are put forwarded in this paper.

Effects of the Northeast China Revitalization Strategy on Regional Economic Growth and Social Development

Measuring the economic and social effects of the Northeast China Revitalization Strategy is critical to addressing regional sustainable development in China. To shed light on this issue, an integrated perspective was adopted that is combined with the difference-in-differences method to measure the effects of the strategy on economic growth and social development in Northeast China. The findings suggest that the strategy has significantly improved regional economic growth and per-capita income by increasing its gross domestic product(GDP) and GDP per capita by 25.70% and 46.00%, respectively. However, the strategy has significantly worsened the regional employment in the secondary industry of the region. In addition, the strategy has not significantly improved regional infrastructural road, education investment or social security, and has had no significant effect on mitigating regional disparity. In addition, the policy effects are highly heterogeneous across cities based on city size and characteristics. Therefore, there is no simple answer regarding whether the Northeast China Revitalization Strategy has reached its original goals from an integrated perspective. The next phase of the strategy should emphasize improving research and development(R&D) and human capital investments based on urban heterogeneity to prevent conservative path-dependency and the lock-in of outdated technologies.

Increasing Subsidies to Main Grain Production Area——Necessity of the Rejuvenation of Northeast China

As an old industrial base, Northeast China is one of the most important grain production base. To rejuvenate Northeast China, it is necessary to strengthen farming products processing, lengthen industrial chain and develop sustainable agriculture.

Economic development and energy efficiency in Jilin Province, China

The relationship between economic development and energy consumption is revealed by employing cointegration theory, the index decomposition method, and a log-linear regression approach based on a case study of Jilin Province, China. The results suggest： 1） the economic development and energy consumption are interdetermined, whose relationship is positive and long-term. The economic development is highly depending on the energy in Jilin Province. 2） Under the condition of other unchanged factors, the change of industrial energy efficiency contributes to the energy saving, while that of industrial structure increases the energy consumption. 3） The industrial structure change enhances the energy intensity, but the energy utility efficiency change lowers it. From the view of contribution to the energy consumption, the contribution of industrial structure was more than that of the energy utility efficiency in 2000-2011. 4） In 2000-2011, the comprehensive energy intensity change and hydroelectricity energy intensity change were related to all industrial structures＇ change, and the influencing factors about structure of oil energy intensity change were more than those of coal energy intensity change; from the impact degree, agricultural proportion decreased exerted an positive and greater effect on lowering the energy intensity of comprehensive energy and hydroelectricity, and industrial one did on coal and natural gas. Some conclusions can be drawn as follows： the major way to promote the coordinated development of the industrial economy and energy consumption is to optimize the industrial structure by increasing the proportion of the tertiary industry and low energy consumption industrial sectors and to enhance the energy utility efficiency.