Revitalizing Idle Assets to Build a New Growth Engine: A Frontline Look at Changbai Mountain's Cultural Tourism Transformation

Deep News07-27

In the bustling Enduli Commercial Street in the Chibei District of Changbai Mountain during summer, crowds are everywhere. Restaurants at the street entrance are fully booked, with the sounds of calls and food delivery rising and falling. Handcraft shops along the street see a steady flow of visitors, who stop to pick out souvenirs. The fragrant scents of ginseng paste and herbal oils drift across the entire street. On the open-air square, a folk performance is in full swing, drawing waves of cheers from the audience.

Few would imagine that this lively area was once a vacant property project that had been idle for eight years. Enduli was originally the Zuorongfu Tourism and Commercial Complex, construction of which halted in 2018 due to a funding chain break from its partner. "The walls were peeling, weeds were growing, and such a prime location was left to waste. Everyone felt it was a shame," said Liu Guiqin, a local resident who has run a supermarket nearby for over a decade. She recalled that in those years, surrounding shops had little business, and even a night market couldn't get off the ground.

In recent years, capitalizing on the Northeast China tourism boom and the opening of the Shenyang-Baihe high-speed railway, local authorities took the revitalization of idle and inefficient assets as a breakthrough. They tackled this long-standing, tough issue, breathing new life into dormant assets and unlocking their value.

"Coming from Guangdong to Changbai Mountain in Jilin, we saw the potential of the cultural tourism market here. Enduli provided us with an excellent platform," said Xie Wanying, owner of the first "Changbai Promise" cultural and creative store to set up shop. Her store features original products themed around Tianchi Lake and the forest, and the street's regular themed events bring a steady stream of customers. "After visiting the night market, tourists come into the store to pick out souvenirs and stamp commemorative tokens. Our revenue has become more stable year by year."

Phase one of Enduli, which opened in June 2025, has already attracted 79 merchants, including cultural and creative shops, restaurants, and homestays, with a leasing rate of 93% and over 1.85 million tourist visits. "The renewal of Enduli isn't just about simple repairs. It's a systematic reshaping with culture at its core and business upgrades as a driving force," said Wang Chunyuan, General Manager of Changbai Mountain Enduli Commercial Management Company. He added that future plans include further diversifying the business mix with supporting facilities like resort hotels and leisure experiences, aiming to create a comprehensive cultural tourism hub for dining, lodging, travel, shopping, and entertainment—filling a gap for one-stop destinations in Chibei District.

The revival of Enduli is not an isolated case. Other cultural tourism projects, such as Lujiao Village and the Changbai Mountain Academy, which had been idle for about a decade, have also been restarted. Several idle residential projects focused on public welfare have been simultaneously revitalized. From commercial streets to cultural venues, and from business upgrades to improved public services, the scope of revitalizing existing assets continues to expand. This not only enhances the value and preservation of state-owned assets but also effectively resolves historical issues, giving businesses confidence.

Revitalizing idle assets is no easy task, with the main challenges being untangling old accounts and overcoming bottlenecks. Local authorities have responded by strengthening their sense of responsibility and exploring legally sound and market-driven pathways for revitalization.

The first hurdle is navigating property rights and debt. "The most prominent difficulty is sorting out the intricate web of property rights and debt relationships," said Wang Yang, Project Director of Changbai Mountain Group. He noted that the team completed a specialized legal due diligence, financial audit, asset verification, and valuation, along with submitting investment and restructuring plans, in just 83 days. This allowed them to secure 100% equity of the Xinqi Shijie Company, increasing Changbai Mountain Group's total assets by 655 million yuan while maximizing protection for the interests of creditors and homebuyers. Simultaneously, the team identified the project's restructuring value and potential by redesigning the direction of new business formats to create a new tourist attraction.

The second hurdle is restoring market confidence. Local authorities have established a "one project, one team" mechanism, coordinating multiple departments to clear obstacles in planning approvals and property registration. They have also adopted a model where state-owned enterprises provide heavy asset backing while professional teams handle light asset operations. This approach involves stepping in with initial investments when private capital is hesitant, building momentum, and using tangible results to encourage businesses to follow.

Transforming "dormant resources" into "development capital," this renewal of existing assets reflects a deeper strategic shift in Changbai Mountain's cultural tourism transformation—using existing spaces as a foundation to restructure the business mix, breaking free from the reliance on ticket revenue, and cultivating a "second curve" for industrial growth.

This transformation approach is evident at the Chibei District Transportation Hub. Following the upgrade of the Changbai Mountain·Jin1172 Performance City, it has been hailed by netizens as the "most tourist-friendly" hub. The venue has introduced measures like ticket price reductions and a 24-hour complaint response system. It has also created a free "Changbai Mountain Holiday Lounge" in the waiting area, integrating Changbai Mountain's folk culture into interactive experiences.

Liu Yang, head of the Performance City, explained that the project features over 10 interactive NPCs, various photo-worthy spots, and a professional performance team. "In the past, tourists waiting for shuttle buses would mostly just scroll through their phones. Now, they come specifically to visit ahead of time, significantly enhancing their experience." From his perspective, the shift from "guarding the mountain gate to sell tickets" to "creating experiences around visitors" is fundamentally about retaining people and increasing spending loyalty.

Not far from the transportation hub, the Meiren Song Park is emerging as a new tourism landmark. Amid the beautiful pine forest, a "Love Trail" connects several photo spots, and the park's marriage registration office offers a one-stop service for "getting a marriage license plus a honeymoon." Since its launch on December 26, 2025, it has attracted over 2,500 couples to register specifically. This scenic park, leveraging its ecological IP, has created a romantic dating and wedding destination, marking another highlight in Changbai Mountain's non-sightseeing tourism offerings.

Deep in the forest, study tour routes are witnessing rapid growth in the educational tourism sector. Tapping into local geological, ecological, and cultural resources, the area has developed multiple study tour products, including forest exploration and geological science routes. Geng Deyong, Director of the Changbai Mountain Culture, Sports, and Tourism Bureau, reported that in the first half of this year, the destination hosted over 50,000 study tour participants, making it a new engine for cultural tourism growth.

Sports tourism, through cycling events, is also carving out new growth space. The area has built a 365-kilometer forest slow-trail around Changbai Mountain and has hosted the annual Changbai Mountain Forest Cycling Race for several years. The course, winding through primeval forests, volcanic wetlands, and other landscapes, attracts professional cyclists while also drawing large numbers of cycling enthusiasts.

From the lively commerce of the street, to educational tours in the forest, romantic getaways in the park, and the thrill of the race track, these new scenes are piecing together a clear transformation path. With idle assets being revived collectively and diverse business formats blossoming, Changbai Mountain's cultural tourism "second curve" is accelerating its activation.

"Revitalizing existing assets is just the first half of the story. The more important part is the second half: delving deeper into local cultural heritage, optimizing business formats, refining the visitor experience, and promoting the deep integration of culture and tourism," said Wang Tao, a member of the Party Working Committee and Deputy Director of the Changbai Mountain Protection and Development Zone Management Committee. He noted that local authorities are driving Changbai Mountain's evolution from a "Tianchi Lake viewing" sightseeing spot to a "stay and linger" vacation destination, continuously exploring new paths for high-quality cultural tourism development.

Changbai Mountain Tourism Co.,Ltd. (603099) is one of the key listed entities involved in the region's tourism operations, and its performance is closely tied to the success of these transformation efforts.

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