Economic Watch: Entrepreneurs eye opportunities in northeast China’s emerging industries

An industry transfer promotion event focusing on digital economy is held in Harbin, northeast China’s Heilongjiang Province, Sept. 1, 2024. (Xinhua/Yang Xuan)
HARBIN, Sept. 4 (Xinhua) — Xu Shaochun, an entrepreneur from Shenzhen in south China’s economic powerhouse of Guangdong Province, traveled all the way to Heilongjiang Province in the country’s northeast, driven by his enthusiasm to explore the region’s emerging industries.
As the board chairman and CEO of Kingdee International Software Group Co., Ltd., a leading provider of cloud computing services for enterprises, Xu expressed his aspirations to achieve greater milestones in collaboration with local enterprises.
“Heilongjiang strongly supports the development of the digital economy, hence we are optimistic about the prospects for the digital industry’s growth here,” he said.
Xu attended an industry transfer promotion event held from Aug. 31 to Sept. 1 in Harbin, capital of Heilongjiang Province. Entrepreneurs from across China gathered at the event, sharing their visions and confidence in the province’s emerging industries, including the digital economy, high-end equipment manufacturing and new materials.
This year, Xu’s company has increased its investment in its 25-year-old Heilongjiang branch and upgraded it to a limited liability company, aiming to capitalize on the key opportunities in northeast China’s burgeoning digital economy.
“Heilongjiang is more than just a traditional industrial stronghold and a major agricultural hub. It is also a cradle of emerging industries like cultural tourism,” said Zhao Yang, deputy general manager of Shenzhen Data Exchange.
“This diversity yields a wealth of industrial data resources and application scenarios, which are essential for fostering the growth of the data sector,” Zhao added.
Praising the province’s active planning and construction of comprehensive data infrastructures, he noted that the data exchange plans to establish multiple data element workstations in Heilongjiang to enhance data circulation and empower key areas such as modern agricultural operations.
Li Junfeng, vice president of iFLYTEK Co., Ltd., a technology company specializing in intelligent speech and technology, highlighted the solid foundation laid by Heilongjiang’s abundant scientific and educational resources for the development of the digital economy.
The iFLYTEK has established a joint laboratory with the Harbin Institute of Technology and carried out multiple research programs in the field of artificial intelligence, according to Li.
“The local government departments have played a crucial role in fostering strong connections with numerous operational enterprises, allowing us to successfully establish a presence in Heilongjiang,” said Hu Zhenpeng, deputy general manager of the National Graphene Innovation Center.
Hu traveled from Ningbo, a port city in east China’s Zhejiang Province, to participate in the industry transfer promotion event. Noting that Heilongjiang boasts a favorable business environment, he expressed his hope to introduce more innovative graphene products to the province for further industrial development.
According to Heilongjiang’s provincial department of industry and information technology, the event facilitated the signing of 172 projects, with a total contract value of 256.56 billion yuan (about 36 billion U.S. dollars). Notably, projects in strategic emerging sectors accounted for 69.4 percent of the total.
Going ahead, the province plans to continue to optimize its business environment and industrial policies, working with all parties to generate momentum for more inclusive industrial cooperation, according to local authorities.
The northeast China region, deemed the country’s oldest industrial base, was once called the “rust belt,” due to the challenges it faced in economic transformation and development. In recent years, the region has intensified its industrial upgrading initiatives, drawing increased investment and talent. ■

Participants communicate during an industry transfer promotion event in Harbin, northeast China’s Heilongjiang Province, Sept. 1, 2024. (Xinhua)

A Heilongjiang-Guangdong industry cooperation event is held in Harbin, northeast China’s Heilongjiang Province, Aug. 31, 2024. (Xinhua)

An industry transfer promotion event focusing on digital economy is held in Harbin, northeast China’s Heilongjiang Province, Sept. 1, 2024. (Xinhua)