Workers hoist a giant component of a turbine at a plant of Harbin Turbine Co in Harbin, Northeast China's Heilongjiang Province on May 23, 2023. China's equipment manufacturing sector saw rapid expansion in April with a year-on-year growth rate of 13.2 percent. Photo: VCG

Northeast China is seeking to boost the development of emerging technology sectors based on the region's solid industrial foundation and support from the central government, after President Xi Jinping stressed striving for full revitalization during a meeting in Harbin, Heilongjiang Province.

Experts said that the region has rich resources, solid industrial foundations and a favorable geographic location, which could turn into vast development potential in various areas such as technological innovation and advanced manufacturing. 

On Monday, the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) held a meeting, during which it vowed to further support and guide centrally administered state-owned enterprises (SOEs) to deepen comprehensive cooperation with the northeastern region.

Centrally administered SOEs will step up investment, operations, construction and development in the region, so as to make greater contributions to safeguarding national security, food security, ecological security, energy security and industrial security, according to a statement from the SASAC. 

The SASAC stressed that SOEs will step up development plans for strategic emerging industries, actively cooperate with the region to jointly build industrial and supply chains, continuously strengthen cooperation in science and technology, foster new future industries and accelerate the formation of new disruptive production forces, the statement said.  

The northeastern region has a long history of playing a crucial role in China's industrial development, and in recent years, the country has launched a program to support the revitalization of the region. 

Speaking on the future development potential of the region, Northeast China already has a solid foundation in sectors such as aircraft manufacturing, information industry and robotics, Lü Chao, the director of Institute of US and East Asian Studies under Liaoning University, told the Global Times on Wednesday, and more development potential could be unleashed in fields such as financial services and trade.

Stepped-up support from the central government and neighboring provinces will help Northeast China boost its development in these sectors, Lü noted, adding that the enhanced emphasis on collaboration between SOEs and local enterprises will play a vital role in advancing the regional economy. 

The local economy will also be elevated by strengthened cooperation between China and Russia in various aspects from high-tech to trade, Song Kui, president of the Contemporary China-Russia Regional Economy Research Institute, told the Global Times on Wednesday. 

Song highlighted cooperation in supply chains among China, Russia and East Asian countries has already achieved noticeable results in industries such as aerospace, robotics and new energy. He expected the momentum to last and contribute to economic progress. 

This year's Liaoning International Fair of Investment and Trade will be held from September 25 to 27, with more than 900 companies to participate, while global firms and commercial organizations from more than 50 countries and regions will join. 

Multiple investment events were held in August in Northeast China. Some 25 projects worth 35.86 billion yuan ($4.93 billion) were signed on August 29 in Harbin at the 6th China International Advanced Materials Industry Exposition. 

A total of 25 projects with a total value of 12.01 billion yuan were signed on August 22 in Changchun, Jilin Province at an event dedicated to attracting foreign investment.