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Zhu Bixin Attends the Inaugural Meeting of the Longjiang Revitalization Fund

2023/08/31

On the morning of October 25, the inaugural meeting of the Longjiang Revitalization Fund was held in Harbin. Zhu Bixin, Secretary of the Party Committee and Chairman of the Group, attended the meeting and delivered a speech. Wang Wentao, Deputy Secretary of the Heilongjiang Provincial Party Committee and Governor of Heilongjiang Province, and Li Bing, Director of the Capital Bureau of the State-owned Assets Supervision and Administration Commission of the State Council, also attended and addressed the meeting. Zhou Yubo, Chairman of China National Investment Corporation, and Shen Hongyu, Chairman of the Heilongjiang Provincial Industrial Investment Group, attended and delivered remarks, while Vice Governor Shen Ying presided over the meeting. Tong Laiming, Vice President of the Group, also took part in the meeting.

Zhu Bixin pointed out that in recent years, the CPC Heilongjiang Provincial Committee and the Heilongjiang Provincial Government have resolutely implemented the spirit of General Secretary Xi Jinping’s important speeches on deepening the revitalization of Northeast China, staying focused on the right direction and leveraging their strengths, thereby achieving remarkable results and moving steadily toward the goal of high-quality development. The Heilongjiang Revitalization Fund is entrusted with the mission of “pioneering new models of central–local cooperation and supporting the revitalization of Northeast China and industrial restructuring.” As a shareholder of the Heilongjiang Fund, China Chengtong will fully leverage its role as a state-owned capital operation platform, using the Heilongjiang Fund as a bridge to engage more deeply in Heilongjiang’s economic construction and social development. It is committed to, through the joint efforts of both sides, attaining even more fruitful cooperative outcomes and making greater contributions to the revitalization of Northeast China in the new era.

Wang Wentao pointed out that the Heilongjiang Revitalization Fund is a key measure for implementing the spirit of General Secretary Xi Jinping’s important speech at the symposium on deepening the revitalization of Northeast China. It will help promote coordinated adjustments between state-owned capital and industries, guide the transformation and upgrading of enterprises and industries, and foster new drivers of growth. Wang Wentao emphasized that the Heilongjiang Revitalization Fund must adhere to the principles governing the development of equity funds—operating in a market-oriented manner, employing professional management, and maintaining standardized operations—while remaining firmly rooted in Heilongjiang and contributing to the province’s high-quality economic development.

Li Bing pointed out that the establishment of the Heilongjiang Revitalization Fund is a crucial step in implementing the Party Central Committee and the State Council’s strategy for revitalizing Northeast China. It is an effective means of accelerating capital–industry alignment and fostering new drivers of economic growth in Heilongjiang, as well as an important outcome of collaborative efforts between central state-owned enterprises and local authorities to jointly pursue development. He emphasized that China Chengtong and China National Investment Corporation should leverage the professional strengths of state-owned capital operation companies, actively share their experience in fund operation and management, and work in concert with relevant central and local state-owned enterprises to promote the efficient operation and management of the Heilongjiang Revitalization Fund, thereby advancing the comprehensive revitalization of Heilongjiang.

The Heilongjiang Revitalization Fund was initiated by the People’s Government of Heilongjiang Province, with a target size of RMB 10 billion to be raised in three tranches. The first closing amounts to RMB 3.2 billion and is being established through joint contributions from Heilongjiang-based enterprises—China First Heavy Industries, the Provincial Industrial Investment Group, the Provincial Transportation Investment Group, and the Provincial Agricultural Investment Group—alongside China National Investment Corporation and China Chengtong Holdings. The fund’s primary investment areas include high-end equipment and robotics, next-generation information technology and artificial intelligence, new materials, aerospace, biotechnology and innovative pharmaceuticals, new energy and energy conservation, resources and the environment, and modern agriculture. The establishment of the Heilongjiang Revitalization Fund will help strengthen the development of state-owned capital operation platforms, promote the integration of capital and industry, accelerate the cultivation of new drivers for economic growth, facilitate industrial restructuring, achieve high-quality development, and support the comprehensive revitalization of Heilongjiang Province.

During the meeting, Zhu Bixin conducted a field inspection of Heilongjiang Keli High-Tech Industrial Investment Company, listened to a briefing on its operations, and examined the construction and planning of the Harbin New Area.

Representatives from Chengtong Fund, the Group President’s Office, and other relevant personnel of Chengtong Fund attended the meeting and accompanied the research visit.

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