China-DPRK Border: Investment opportunities surface as the DPRK opens up
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02:39
As this unfolds, cities on the border could see some opportunities ahead, if the DPRK opens up its economy. Our reporter Xu Xinchen reports from northeast China's city of Dandong, just a few kilometers away from the border.
XU XINCHEN DANDONG "Local reactions to the DPRK's decision to dismantle its nuclear test field have been positive. And that's mainly due to the potential Dandong could have once the DPRK fully normalizes its relations with the rest of the world. Just a few kilometers across this river is the DPRK's Sinujiu. That's a special administrative region initially modeled on China's successful economic zones like Shenzhen. We can see buildings scattered around on the other side, mostly factories. Around 80 percent of China's trade volume with the DPRK passes through Dandong on the Sino-Korean Friendship Bridge. And there is a new one, the three-kilometer-long New Yalu River bridge in South Dandong. It's not yet been used despite being completed three years ago. Dandong is very close to the DPRK, and with these easy options to reach across the river, huge potential is waiting to be realized.
"It's a good thing for the DPRK to open up, and we are just discussing investment opportunities here in Dandong."
"Local residents can also see benefits in terms of foods and consumer products."
XU XINCHEN DANDONG "Following the thawing of relations between the DPRK and the rest of the world, investors are starting to turn their attention to Dandong. For example, the city is starting to see price surges in its property market. Home prices in the city's new zone jumped about 20 percent in the last few days of April, forcing the local government to impose rounds of restrictions to put prices in check, with the latest just rolled out this week. Some experts are optimistic about the possible benefits Dandong will receive once the DPRK opens up its economy, but others are skeptical. One thing I would like to point out though is how dark and silent the other side looks after nightfall. Some local business owners say the link with the DPRK is a great opportunity for Dandong. But they are not sure when and how the DPRK will move next in terms of its market liberalization. And it could take years for Dandong to finally see benefits. XXC, CGTN, Dandong, Liaoning Province."