Not so long ago, the State Council issued a circular to outline its opinions on how to rejuvenate the old industrial base in northeastern China. This means a new round of strategies for revitalizing the old industrial bases in the Northeast will be launched soon.

ANBOUND's research team is of the view that the aforesaid circular highlights three main aspects: -

(i)Generally, the enterprises are not doing well and hence unable to support so many people;

(ii)The pension funds are not adequate and hence unable to support early retirement;

(iii)The responsibilities of the central government should be separated from those of the local government; the central government should ensure the basic living standards of the people while the local governments should take charge of the remaining.