China's rust belt edges near startup boom, after decades of decline

The northeastern provinces of Heilongjiang, Jilin and Liaoning are on the cusp of an entrepreneurship boom.

The region was the country's main industrial hub in the 1970s before declining in the following decade, when it encountered difficulties in adapting to the structural reforms of the new market economy.

Low GDP growth, overcapacity of traditional industries and unprofitable companies were blamed for the decline.