Eight years ago, on July 17, 2015, Chinese President Xi Jinping emphasized the vital role of institutional innovation in revitalizing northeast China’s old industrial base. Today, the region—comprising Heilongjiang, Jilin, and Liaoning provinces—is witnessing a remarkable transformation, reflecting Xi’s enduring commitment to its rejuvenation.
During a visit on February 8, Xi highlighted the necessity of comprehensive reform and opening up for the full revitalization of northeast China. He urged for the effective implementation of policies and regulations in the reform of state-owned assets and enterprises, alongside the promotion of private economic development.
In recent years, the northeastern region has made significant strides in overcoming deep-seated challenges by reforming state-owned assets and enterprises. The integration of central and local state-owned enterprises has fostered innovation and efficiency. A prime example is Bensteel Group in Benxi City, Liaoning, which revitalized through restructuring with Ansteel Group, enhancing its corporate governance and spearheading industrial transformation.
The region has also optimized the deployment of state-owned capital and improved the business environment, injecting fresh momentum into its comprehensive revitalization. The tourism industry, particularly the burgeoning “ice and snow economy,” has emerged as a key driver of high-quality development.
During this year’s Spring Festival holiday, Harbin welcomed a record 12.15 million tourists—a 20.4 percent increase—boosting tourism revenue by 16.6 percent to reach 19.15 billion yuan (about $2.67 billion), according to the city’s bureau of culture, radio, television, and tourism. Near the entrance of the iconic Harbin Ice and Snow World, a display proclaims, “Snow and ice are also valuable assets.” This vision, championed by Xi several years ago, has reshaped the nation’s ice and snow sector and spurred rapid growth in related industries.
Moreover, the openness of northeast China has continued to improve, with the region’s foreign trade volume reaching new heights. According to official data from China’s State Council Information Office, the total foreign trade volume hit 1.25 trillion yuan ($170 billion), marking an increase of 1.6 percent. Exports surged by 8.1 percent, surpassing the national export growth rate by one percentage point.
As northeast China embraces reform and innovation, its transformation from an old industrial base to a vibrant economic hub serves as a testament to the power of strategic revitalization and the enduring impact of forward-thinking policies.
