Xinhua Silk Road: Industrial and Financial Synergy to Drive Northeast Asia’s Economic Growth
Beijing, 30 October 2025 At the Exchange Conference on Industry-Finance Synergetic Development in Northeast Asia, a parallel event of the 3rd Northeast Asia Finance Conference held recently in Shenyang, Liaoning Province, participants from China, Japan, South Korea, and Russia convened to discuss financial and industrial collaboration aimed at promoting regional development.
In recent years, China has strengthened in-depth cooperation with Northeast Asian countries in both industrial and supply chains, continuously supporting industrial optimisation and upgrading. The region’s economic development is now embracing new opportunities, with deep industrial and financial collaboration serving as the core engine for regional integration and growth.
At the conference, Xiong Haifang, professor and vice dean of the School of Finance at Dongbei University of Finance & Economics, emphasised in his keynote speech that international cooperation has become essential for enterprises in northeast China to engage in the “dual-circulation” development strategy and enhance their global competitiveness. He highlighted that transforming industrial advantages into international competitiveness requires the precise empowerment of the financial system.
Evgenii Shimanovskii, first vice-president of the Eurasian Business Alliance, noted that finance is not merely a supplier of capital but a core driver of industrial trust and regional collaboration. He stressed that Northeast Asia, with its robust manufacturing base, increasingly relies on strong financial guarantees and support to maintain and expand its industrial activities.
During a roundtable discussion, Andrei Kapustin, counsellor of the Trade Mission of the Russian Federation in China, pointed out that the Trade Mission acts as an important bridge, facilitating Chinese and Russian enterprises to explore cooperation opportunities. It also plays a critical role in providing financial support and practical connections for industrial projects.
Jin Xing, vice general manager of the Shenyang Branch of Shinhan Bank (China) Limited, explained that, as a foreign bank, Shinhan has actively supported Shenyang’s economic development. The bank has enhanced financing solutions for enterprises with cross-border investment needs, particularly those investing in South Korea.
Peng Songyang, general manager of the Banking Department of Shengjing Bank, headquartered in Shenyang, stated that technology financing will form the cornerstone of the bank’s development strategy. Shengjing Bank aims to provide comprehensive financial services for high-tech enterprises in the region to support their growth and strengthen the regional industrial ecosystem.
The conference highlighted the vital role of coordinated industrial and financial strategies in accelerating Northeast Asia’s economic integration and fostering sustainable development.
Xinhua Silk Road