A financial forum was held in Harbin, Heilongjiang province on Jan 7, 2017, with the aim of building a platform for governments, businesses and academics to discuss how to promote the financial development of Northeast China.

In the forum, representatives discussed many issues, such as how to transform government functions, how to optimize the business environment, and the problems of the financial services industry.

Hai Wen, head of Peking University HSBC Business School, claimed that the government should provide more support for private businesses in order to achieve great rejuvenation of Northeast China.

He expressed his view that private companies should be encouraged to innovate and start more businesses. He also suggested private companies should learn to transform themselves and take part in mergers and acquisitions.

"Private firms have to actively attract investment and make full use of their own advantages,” Hai said.

Hai mentioned that the cost of land and people are relatively low in Northeast China, therefore Harbin should be able to attract more foreign businesses and high-end manufacturing industries.

He also suggested Harbin strengthen the development of its tourism industry and enhance tourism infrastructure in the city.

Hai Wen, head of Peking University HSBC Business School, delivers a keynote speech at the financial forum held in Harbin, Heilongjiang province. [Photo/dbw.cn]