Heilongjiang Province has successfully deployed its first new policy-based financial instrument of 2026. The Heilongjiang branch of China Development Bank signed and disbursed 270 million yuan, earmarked to support the construction of the privately-invested 300,000-ton green hydrogen, methanol, jet fuel, and chemical co-production project in Jidong County, Jixi City. This move strongly supports the expansion and quality upgrade of Heilongjiang's green liquid fuel industry and marks a strong start for the province's 2026 implementation of new policy-based financial tools.
On September 18, the construction site of the Jidong County 300,000-ton green hydrogen, methanol, jet fuel, and chemical co-production project buzzed with activity, as tower cranes rotated, excavators rumbled, and concrete pumps poured non-stop. The project utilizes agricultural and forestry waste such as crop straw and corncobs as raw materials, adopting a fully green energy supply system with integrated regeneration technology routes including biological fermentation, biotechnology, slurry gasification, and petrochemical refining. It will create an annual green energy production capacity of 240,000 tons of bio-methanol and 80,000 tons of green ethanol. Expected to commence operations by the end of 2027, the project will fill gaps in the regional green chemical industry chain, boost local employment, and drive the development of upstream and downstream supporting industries.
Zhao Jiwei, President of Jianeng New Energy Co., Ltd., stated that the introduction of policy-based financial support has effectively bolstered the growth of private enterprises. He added that the company will leverage this financial instrument as momentum to accelerate project progress, achieve production targets on schedule, and repay the support of party committees and governments at all levels through tax compliance and effective local job creation, contributing to Jixi's high-quality economic development and industrial upgrading.
Wang Dali, Deputy Director of the Jidong County Development and Reform Bureau, emphasized the project's significance for Jidong's industrial transformation and high-quality development. He noted the implementation of a "five ones" advancement mechanism, involving one project, one leader, one dedicated team, one tailored plan, and one continuous follow-through, to proactively identify and resolve bottlenecks, ensuring precise and rapid project construction. Looking ahead, the bureau plans to seize policy opportunities, stimulate private investment vitality, accelerate industrial transformation and upgrading, and promote high-quality economic and social development.
The new policy-based financial instrument is a policy mechanism created by the state to optimize capital efficiency for major projects. It is deployed on a market-oriented basis by three policy banks, with a focus on supporting private investment, green low-carbon development, and technology innovation projects. The tool aims to leverage additional social capital and expand effective investment. Since the beginning of this year, the Provincial Development and Reform Commission has focused on areas such as technological innovation and urban function enhancement, organizing various localities and departments to continuously plan and reserve projects. In collaboration with the Heilongjiang branches of the three policy banks, including China Development Bank, the Export-Import Bank of China, and the Agricultural Development Bank of China, a coordinated joint pre-review mechanism was established, covering policy interpretation, project planning, screening, and application review. Roadshows and policy briefings were conducted across different regions, leading to the precise selection of high-quality projects aligned with the province's industrial positioning. This successful deployment serves as a model for supporting major private capital projects.
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