Conference promotes 'new economic miracle'

Event has reinvigorated plans for regional development

The First World Jilin Merchants Conference has resulted in a number of investment projects with a total value of more than 70 billion yuan ($10.5 billion).

The conference, held late last month, was attended by more than 1,200 businesspeople from 36 countries. It has reinvigorated plans for the development of northeast China, the country's traditional industry base, which is currently being squeezed by slower economic growth as a result of the country's economic restructuring.

Wang Qinmin, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, said at the opening ceremony on July 28 that the Jilin provincial government should create a favorable investment environment in order to "create a new economic miracle" in the province.

The Jilin provincial authorities have attached great importance to the development of private enterprises and introduced a range of policies to support the growth of such businesses in recent years, said Wang, who is also chairman of the All-China Federation of Industry and Commerce.

Jilin province is an important base in China for traditional industry and agricultural production, added Wang, as he emphasized that the provincial authorities have worked hard to facilitate development in the new normal stage of China's economic growth.

Everyone that is doing business in Jilin, whether or not they are local people, as well as people from the province who are engaged in global trade, should contribute to the development of the local economy, said Bayinchaolu, Party secretary of Jilin province.

On July 27, the Jilin Merchants Association was established at the Jilin Province National Advertising Industry Pilot Park. The association, which is a non-profit social group, helps its members to get involved with Jilin's socioeconomic development and support its economic revival.

Headquartered in the provincial capital of Changchun, the association's members are businesspeople who were born in the province, as well as local people who have worked or studied there.

The association also helps its members deal with problems related to investment and business operation by voicing their concerns and views to various government departments. It also promotes cooperation among its members and safeguards members' rights and interests.

Party Secretary Bayinchao-lu called on the association to unite all Jilin merchants so they can make a stronger contribution to Jilin's socioeconomic development. He also affirmed the government's commitment to support the association.

Ju Li, head of the Canadian branch of the Jilin Merchants Association, told Xinhua News Agency that she felt excited at the prospect of "doing something" for her home province of Jilin.

Ge Jian, head of the Beijing branch of the Jilin Merchants Association, said that the association's membership in Beijing now stands at more than 3,000 compared to just 100 last year.

According to Ge, the association's Beijing branch introduced investment projects valued at more than 50 billion yuan during the First World Jilin Merchants Conference.

Xu Yong, deputy director of the Jilin Province Economic and Technological Cooperation Bureau, said that the provincial government prepared more than 2,400 cooperation projects for investors covering areas including auto manufacturing, petrochemical, agricultural produce, healthcare and new energy.

"Businesspeople in Jilin have a big global family now, and we will work together to push forward the development of our home," said Zhao Shuqing, director of the South California China-US Exchange Association.

To attract more investment, the Changchun city government dispatched 19 groups consisting of more than 250 people to do pre-event promotion ahead of the conference.

In late April, the central government issued a guideline to rejuvenate the country's northeast region, which has faced developmental challenges in recent times, through a series of reforms and economic restructuring. According to the guideline, State-owned enterprises will be restructured, private firms will receive more support and development will be driven by regional cooperation.

The region's equipment manufacturing sector will be modernized, and high-end industries, the modern service sector and modern agriculture will all be supported, the guideline stated.

Northeast China, including Liaoning, Jilin and Heilongjiang provinces, was among the first batch of regions in China to become industrialized. Its traditional industries include steel, automobiles, shipbuilding, aircraft manufacturing and petroleum refining.

However, this once robust industrial base has been hit harder than the rest of the country by the economic slowdown, and lags well behind other provinces when it comes to GDP growth.

The central government guideline also emphasized the importance of accelerating the revitalization of the Northeast, calling it a significant part of the country's modernization drive and overall economic restructuring.

Within the next decade, northeast China is expected to become a leading manufacturing base for advanced equipment and a strategic base for technological equipment.

The guideline urged local governments to create an open and fair business environment and unleash economic vitality through simplified approvals procedures, the delegation of power to lower levels and improved services.

The development of the private sector will also be encouraged, through improved financial services for small and medium-sized businesses and easier investment access for private capital, according to the guideline.

Wang said that the Jilin provincial government should implement the guideline and local entrepreneurs should seize the development opportunities on offer.

He encouraged businesspeople to be confident about the country's economic future and dedicate themselves to improving the core competitiveness of their companies.

Contact the writers through anbaijie@chinadaily.com.cn.

(China Daily 08/15/2016 page22)