Xinhua Silk Road: Industrial and financial synergetic development to be engine for Northeast Asia's economy

BEIJING, Oct. 30, 2025 /PRNewswire/ -- 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 of northeast China's Liaoning Province, participants from China, Japan, South Korea and Russia gathered together to exchange views on the financial and industrial collaboration in promoting regional development.

In recent years, China has enhanced in-depth collaboration with northeast Asian countries in terms of industrial chains and supply chains and continuously facilitated industrial optimization and upgrading. The economic development in Northeast Asia is embracing new opportunities, with deep industrial and financial collaboration as the core engine for the regional cooperation.

At present, international cooperation has become an inevitable option for enterprises in northeast China to participate in the "dual-circulation" development pattern and improve their global competitiveness, said Xiong Haifang, professor and vice dean of the School of Finance of Dongbei University of Finance & Economics, when delivering a keynote speech at the event. To transform industrial advantages into international competitiveness, it is necessary to rely on the precise empowerment of the financial system, Xiong noted.

Evgenii Shimanovskii, first vice-president of Eurasian Business Alliance, said that finance is not only a capital supplier but also a core driving force for industrial mutual trust and regional collaboration. The Northeast Asia is home to a strong manufacturing base which is even more in need of strong financial guarantee and support.

During a roundtable discussion session, Andrei Kapustin, counsellor of the Trade Mission of the Russian Federation in China, said that as an important bridge and link, the Trade Mission of the Russian Federation could help Chinese and Russian enterprises explore cooperation opportunities and facilitate financial support and practical connection for industrial projects.

Jin Xing, vice general manager of the Shenyang Branch of Shinhan Bank (China) Limited, said that as a foreign bank, Shinhan has actively supported the economic development in Shenyang and enhanced financing support for enterprises with cross-border financing needs, especially those investing in South Korea.

Peng Songyang, general manager of the Banking Department of Shenyang-headquartered Shengjing Bank, said that technology financing will be the key development strategy for the bank and it will provide comprehensive financial services for high-tech enterprises in the region to support their growth.

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