LANZHOU, June 15 (Xinhua) -- Authorities in northwest China's Gansu Province recently released regulations and action plans to ramp up development as well as financial reform and innovation in Lanzhou New Area, reported Xinhua-run Xinhua Finance Sunday.
The regulations aim to speed up the construction of the Lanzhou New Area in the fields of manufacturing, industry and economy.
Approved by the State Council, Lanzhou New Area is the first national new area in northwestern China. It is an essential economic growth pole and a crucial industrial base in northwest China.
In recent years, Lanzhou's new area has developed rapidly in ten significant industries, such as the green chemical industry, new materials, big data, and advanced equipment manufacturing. Its gross domestic product (GDP) has surged 12.3 percent year on year in the first quarter of 2020.
It is noted that several economic indicators in the new area have bucked the trend during the period from January to April, of which industrial investment in the new area has increased by 18.8 percent year on year.
(Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)
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