Closures to have little impact: Jiang
11/3/2008 11:32
The recent closure of some companies with investment from the Republic of
Korea did not have a major impact on the economy in eastern China's Shandong
Province, Governor Jiang Daming said on the sidelines of the country's
parliamentary session.
"On the contrary, it will help improve our
industrial structure and the quality of the local economy," said Jiang, also a
deputy to the 11th National People's Congress.
Dozens of ROK-invested
companies closed their China operations this year, leaving workers unpaid. In
Jiaozhou, 103 ROK-invested businesses have shut down.
"Most of these
companies are small plants," said Jiang.
"It's natural for the investors
to leave when they are not able to make money here."
Xinhua
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