Stable growth the focus to support emerging industries

Jilin province is transforming from an old industrial base into a vibrant region with a range of emerging industries, said the province’s top official at the ongoing annual meeting of the National People’s Congress in Beijing, rebuking some negative projections of the economic outlook in Northeast China.

As an old industrial base, Jilin has a large population with “the spirit of craftsmanship” and perseverance, provincial Party chief Bayin Chaolu said.

The province now not only boasts strong industrial infrastructure but is also seeking innovation-driven growth by upgrading its traditional pillar industries, including automobile, petrochemical and agricultural products processing, he said.

The province’s emerging industries, including healthcare, electronics, equipment manufacturing and tourism, have experienced rapid development since the government launched a campaign to improve the soft environment for development, he said.

Wang Zhanguo, a researcher at the Jilin provincial government’s Development Research Center, said the province’s economy is stabilizing while adapting to the new normal, which features slower but quality growth.

He said some critics’ negative remarks about Northeast China’s economic outlook are groundless, citing the robust development of emerging industries in Jilin province.

Healthcare, equipment manufacturing, electronics and tourism have become the four new pillar industries of Jilin, Wang said, adding that the contribution of the equipment manufacturing industry to the province’s GDP reached 5.8 percent in the first half of 2016, outperforming the petrochemical industry.

State-owned enterprises in the province are also experiencing renewed growth, Wang said.

Jihua Group of the China National Petroleum Corporation generated revenue of 1.2 billion yuan ($174 million) in the first half of last year, following five loss-making years in the period 2011-15.

Li Jibao, president of Jilin Universal Machinery, said he first noticed the economic recovery in the first quarter of last year as the company received more orders than before. The improving economy shows that the government’s policies aiming to stimulate growth are taking effect, Li said.

Jilin needs to attract more high-end professionals and further improve its soft environment for investment to sustain this strong momentum for growth, Wang said.