Work to set up Asia's largest flax production base, Harbin Flax Textile New Factory, in Industrial Development Zone of Shuang Cheng City, Helongjiang province, has been completed.
In recent years, due to operating mechanism, flax industry of this province has gradually declined. In order to revitalize the flax industry, the provincial SASAC has accelerated the exit-pace of state-owned capital from the industry.
Strategic investors started restructuring state-owned enterprises from 2003. With the completion of the new plant, the province accomplished the task of a comprehensive restructuring of state-owned flax enterprises.
According to Zhao Jie, director of the provincial SASAC, they will coordinate the reorganized enterprises to build some market projects, including Harbin Flax Expo Center, through financial and policy support, with the target of establishing Heilongjiang flax industrial central zone in Harbin.
Fibre2fashion, News Desk - China
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