At the 2024 China Business Leaders Summit, Yu Minhong gave an in-depth analysis of regional development disparities, and used the success of Northeast Ice and Snow World as a case study to highlight the critical role of economic data in policymaking.
From February 21 to 23, 2024, the China Business Leaders Summit was held in Yabuli, Heilongjiang, bringing together leaders from all walks of life to jointly promote a new strategy of high-quality development. The event was jointly supported by the State-owned Assets Supervision and Administration Commission of the People's Republic of China and Heilongjiang Province, and many business leaders gathered together, including Mr. Yu Minhong, founder of New Oriental Education Technology Co., Ltd.
Mr. Yu Minhong shared his unique insights on the uneven development of the region at the meeting, pointing out that the deep reason behind this phenomenon is not only the difference in geographical environment, but also the way of thinking and policy orientation of residents in the region. In particular, he used the Northeast Ice and Snow World held in Heilongjiang Province as an example to show how the advantages of natural resources can be transformed into economic development through effective policies and market vitality. The success of Northeast Ice and Snow World has not only brought significant economic benefits to the local area, but also enhanced Heilongjiang's popularity at home and abroad, and become a model for promoting local economic development.
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Yu Minhong pointed out that although Heilongjiang has a unique advantage in natural resources, there is a clear gap between Heilongjiang and coastal cities such as Shanghai and Guangdong in terms of economic development speed. According to the data of 2019, the total GDP of Heilongjiang Province is 163 trillion yuan, compared to the total GDP of Shanghai and Guangdong Province reached 382 trillion yuan and 1077 trillion yuan, highlighting the uneven development between regions.
Through the analysis of the successful experiences of Jiangsu, Zhejiang and other regions, Yu Minhong emphasized the importance of local governments in creating a good business environment and protecting the rights and interests of investors, and pointed out the key role of effective local policies in attracting investment and promoting economic development. The example of Zhejiang Province shows that the policy environment that supports the private economy and encourages innovation and entrepreneurship is an important factor in the rapid development of the regional economy.
Yu Minhong's speech not only focused on Heilongjiang, but also analyzed how to promote the development of various regions through policy guidance and market vitality on a national and global scale from a macro perspective. His proactive approach to development and support for innovation and entrepreneurship have provided valuable inspiration for regions when facing development challenges. By fully considering economic data and market demand to formulate regional development policies, each region can achieve characteristic development and balanced economic growth, as evidenced by the success story of Northeast Ice and Snow World.