Phoenix News Reports: On February 22, during the convening of the Third Session of Changbai Mountain Forum, Professor Yu Miaojie, Fellow of the International Economic Association and President of Liaoning University (LNU), was invited to deliver a keynote speech on “New Pathways for Economic Development and the Revitalization of Northeast China”.
This report has been prominently featured as the headline of the Finance section on the website of Phoenix News. The full text of the speech, video recording, and relevant links are republished below:
The Changbai Mountain Forum 2025 (the third session) convened grandly in Baishan City, Jilin Province on February 22, under the theme “Ice-Snow Changbai, Rising Eastern Momentum”. Organized by Phoenix Finance and co-hosted by Northeast Securities, this premier economic summit gathered cross-sector expertise to explore innovative pathways for economic development and Northeast China revitalization.
During the forum’s opening keynote session, Prof. Yu Miaojie, President of LNU, expressed unwavering confidence in the comprehensive revitalization of Northeast China. “The full revitalization of the Northeast is certain to be achieved”, stated Yu, highlighting four strategic pillars underpinning this transformation:
The first advantage lies in relatively complete industrial chains and well-developed infrastructure. Taking Liaoning Province as an example, it possesses a comprehensive industrial system covering 39 major industrial categories, approximately 200 medium industrial sub-sectors, and nearly 600 minor industrial specializations, coupled with relatively well-developed infrastructure. The second advantage is the integration into China’s unified domestic market, as Northeast China is breaking geographical barriers through the flow of production factors and deeply participating in nationwide market integration. The third advantage is the synergy among education, technology, and talent; Liaoning boasts nearly 114 higher education institutions, including multiple “Double First-Class” universities or disciplines, with significant collaborative effects between its scientific-educational resources and industries. The fourth advantage is the institutional mechanism of concentrating resources to accomplish major tasks, which provides systemic guarantees for revitalization efforts.
To actively achieve revitalization goals, Yu Miaojie proposed three reform recommendations: First, cultivate new quality productive forces through reform and open-minded approaches, achieving revolutionary technological breakthroughs via innovative allocation of production factors (e.g., artificial intelligence, new materials). He cited DeepSeek as an example, noting that such “revolutionary technological breakthroughs” are experiencing explosive growth. Second, traditional industries must undergo transformation and upgrading by accelerating digitalization and intelligent transformation, such as enhancing the brand value and deep-processing capabilities of specialty products like ginseng. Third, for emerging strategic industries, balance growth potential with risk prevention, and guide social capital to participate in investments.
He further emphasized the need to coordinate the relationship between the state sector and private economy. For the state sector, there should be strengthened creativity, influence, control, and competitiveness; for private enterprises, it is essential to optimize market access mechanisms and address bottlenecks in financing and land use. Under the framework of a unified national market, efforts should focus on both deepening SOE reforms and ensuring equal access to factor resources for private businesses.
Finally, Yu Miaojie called on all stakeholders to maintain firm confidence, emphasizing that the current economic difficulties facing Northeast China are temporary and localized, can be addressed through targeted adjustments, and represent phased challenges that are surmountable. He stressed the imperative to prioritize the development of the private sector economy as a driver for sustained and healthy development of the national economy, an approach equally applicable to the broader national economic landscape.
Link to the original article:
https://ishare.ifeng.com/c/s/v002RF-_W9E1r5IHCoN3w7retJvIyLmOI6VP6FG0lnCNZ4ZI__?spss=np&channelId=&aman=95e77810d3j62aX983i2aecb54m76c1f1eJ529W23c&gud=14X851P798
