Guiyang, Guian bolster their industrial development

Both Guiyang and Guian aim to expand the scale of their manufacturing industry. [Photo/Guiyang news network]

Guiyang city and the nearby Guian New Area – both located in Southwest China's Guizhou province – are currently on a roll in terms of developing their industry.

They have adopted the new type of industrialization as priority to expand key industries such as electronic information manufacturing, advanced equipment manufacturing, the phosphorus industry, green food, new energy vehicles, aluminum and aluminum processing, medicine and software and information services.

In the current year, Guiyang has established an industrial development pool with funds of 10 billion yuan ($1.53 billion). This facility combines fund investment and financial support – supporting Guiyang's companies and projects involved in the new industrialization.

So far, the fund pool has listed 38 companies on its white list – those that have priority to apply for loans or receive investments – and has issued 264 million yuan of loans to them, alleviating the financing problems of 13 companies. This year, the fund pool aims to issue 2.5 billion yuan in loans to more than 120 companies and invest 2.5 billion yuan in more than four sub-funds.

Since the start of the year, Guiyang and Guian are understood to have attracted various upstream and downstream companies related to aluminum and aluminum processing. These companies are expected to help increase the added value of aluminum products, form aluminum industry clusters, as well as contribute to the production of batteries for new energy vehicles.

Guiyang and Guian are also planning to enhance their services for central-government-owned enterprises and encourage them to invest in more projects, regional headquarters and R&D centers.

In order to develop advanced equipment manufacturing and electronic information manufacturing, Guiyang and Guian are expected to introduce more than five projects in aviation, aerospace and the engineering machinery sector – as well as more than 20 projects involving intelligent terminals, electronic components and servers.