Dalian 'set to have China's fifth new area'

A proposal to set up China's fifth national new area in Dalian has been discussed by ministries and commissions and is expected to be reported to the State Council soon, China Securities Journal said on Friday.

Wu Xianhua, a member of the national committee of the Chinese People's Political Consultative Conference and vice-president of Dongbei University of Finance and Economics, made the proposal during this year's session of the National People's Congress and the CPPCC.

The proposal said that a new area would allow Dalian to enjoy preferential fiscal, finance and trade policies, and attract more foreign investment.

The establishment and development of a national new area is regarded as a national strategy, so the State Council would plan, examine and approve its development goals, positioning, and preferential policies.

There are currently four national new areas  Pudong New Area in Shanghai, Binhai New Area in Tianjin, Liangjiang New Area in Chongqing and Zhoushan Islands New Area in Zhejiang province.