A conference encouraging State-owned enterprises to contribute to the economic and social development of Northeast China’s Jilin province takes place in the provincial capital Changchun on April 17. [Photo/sinomach.com.cn]

Ren Hongbin (second from right), chairman of Sinomach, talks with government officials of Jilin province at a meeting in the provincial capital Changchun on April 17. [Photo/sinomach.com.cn]

Ren Hongbin, chairman of China National Machinery Industry Co (Sinomach), took part in a conference encouraging State-owned enterprises (SOEs) to contribute to the economic and social development of Northeast China’s Jilin province in the provincial capital Changchun on April 17.

According to Ren, Sinomach currently has 20 subsidiaries in Jilin, showcasing stable growth in revenue. The country’s Belt and Road Initiative and the Revitalization of Northeast China strategy have provided a better business environment for the company to deepen its cooperation with the province.

A series cooperated projects are already underway.

China Hi-tech Group, a subsidiary of Sinomach, signed a cooperation agreement with the government of the provincial capital Changchun in March, according to which the company will invest 30 billion yuan ($4.76 billion) in textile machinery, new energy automobiles, finance, cultural innovation, new materials and international trade within three to five years.

During the conference, Sinomach also established the partnership with the government of Siping city to develop the local cultural innovation industry and modern agricultural engineering projects.