Harbin, capital city of Northeast China’s Heilongjiang province, will introduce a raft of measures to boost the development of companies with annual earnings of more than 1 billion yuan ($142.84 million) in the next five years, according to city officials.
 
They said that under a newly launched business growth work plan, by 2021 there will be 40 enterprises with annual business income of 1-10 billion yuan and 10 enterprises at the 10 billion yuan annual revenue level in Harbin.
 
By 2025, it is expected that there will be 70 enterprises with earnings of 1-10 billion and more than 20 companies above the 10 billion yuan revenue level.
 
Harbin city plans to reach the targets through such methods as business technical transformations and upgrades, company mergers and acquisitions, and project introductions and boosts to investment, officials said.
 
Among those on a list of targeted companies to receive help with their further development is Jiusan Group, a large soybean processing enterprise; Harbin Pharmaceutical Group, a State-controlled Sino-foreign equity joint venture; and AVIC Harbin Aircraft Industry Group, a Harbin headquartered aircraft developer and manufacturer.