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Firms to be closed to make way for dam project
(China Daily)
Updated: 2004-03-30 00:47 China will close some 448
enterprises in the next stage of industrial locations in the Three Gorges dam
project, an official in charge of construction said Monday.
Lu Chun, deputy director of the project, said 482 more enterprises will be
affected over the next three years, with 448 shut down and 34 others rebuilt
after they are relocated.
The government will pay 680 million yuan (US$82 million)to laid-off workers
with closed State-owned enterprises, Lu said.
By the end of last year,China had relocated 1,202 enterprises in the area,
with about 680 closed due to bankruptcy.
Before the relocation, the area had redundant enterprises. "Such a situation
could not meet the development demand," Lu said.
The relocations involve businesses with average fixed assets of only 3
million yuan (US$361,450) and less than 200 employees.
The Fuling Taiji Group of Chongqing is one case in point, with assets that
snowballed to 5 billion yuan (US$605 million) from 10 million (US$1.2 million)
before its relocation, Lu said.
After it relocated,enterprises have enjoyed growth on a larger scale because
more investments were channeled to them as a result of the shut-down of
redundant businesses.
Lu also said the introduction of high technology has helped some gear up for
market demand.
Officials have showed concern over the reemployment of laid-off workers, with
the government making efforts to provide subsidies to workers from closed
enterprises while providing job opportunities by promoting local tourism, orange
planting and aquaculture, Lu noted.
He said the government will step up supervision of the auction of assets of
closed enterprises to avoid backroom deals.
The Three Gorges project is the largest water control project in China, as
well as the largest compared to projects worldwide.
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