November 16, 2016 4:55 PM

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China calls for new private bank to rejuvenate northeast region

China has called for a private bank to be established in the country's struggling northeast as part of a new plan to support economic growth in the region.The State Council, China's cabinet, said that the government will investigate the potential of developing new industries in resource-starved cities in the northeast to create employment opportunities, and will accelerate construction of infrastructure projects.China has issued directives this year outlining new infrastructure projects and other investments in an attempt to enhance the growth in the region.

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