Liaoning rolls out plans to boost the development of the real economy

The government of northeast China's Liaoning has convened on the first working day after the Spring Festival holiday to roll out plans to expedite the development of the province's economy.

A steel factory in Dalian, Liaoning Province, October 12, 2018. [Photo: VCG]

The meeting on Monday confirmed that Liaoning will continue to boost the development of the real economy through reforms that are in line with the guidance provided by President Xi Jinping during a panel discussion with lawmakers from Liaoning at the National People's Congress in 2017. During the meeting, President Xi said that Liaoning must depend on the real economy to realize the national rejuvenation, and stressed the leading role of state-owned companies.

Over the two years following this meeting, many state-owned companies in Liaoning have profited from reforms and technological innovations. Shenyang Blower Works Group is one example. The company tapped into a new source of growth by producing new high-end equipment and developing new services.

Yi Hongli, the deputy chief of the Science Management Department of Shenyang Blower Works Group, is interviewed by CCTV News. [Screenshot: China Plus]

"President Xi Jinping noted that we cannot rely on buying core technologies, we must develop them with our own hands. We don't set limits to the amount of money invested in technological innovation each year," said Yi Hongli, the vice president of the company's Science Management Department.

"We are thrilled after the central government rolled out specific policies on improving personal study and promotions for industrial workers," said Xu Qiang, chief of the Safety, Technology and Environmental Protection Department of Shenyang Blower Works Group.

Xu Qiang, the chief of the Safety, Technology and Environmental Protection Department of Shenyang Blower Works Group, is interviewed by CCTV News. [Screenshot: China Plus]

Northeast Pharmaceutical Group is another example of an enterprise that has had a recent change in fortunes. This traditional state-owned enterprise in northeast China has also worked its way out of a slump through reforms based on the call to action from President Xi.

"Realizing the huge gap between the company and global competitors, we must reform according to the requirements of the market," said Wei Haijun, the chairman of the enterprise.

Wei Haijun, the chairman of the Northeast Pharmaceutical Group, is interviewed by CCTV News. [Screenshot: China Plus]

In 2018, Northeast Pharmaceutical finished reforms of its ownership structure that saw the introduction of private capital. One of the benefits is that the employees are more motivated by establishing a new salary system that encourages more pay for more work and that rewards innovation.

The GDP of Liaoning province reached 2.53 trillion yuan in 2018, up 5.7 percent compared to the year before; the province also ranked among the top in terms of the speed of its industrial growth.