Guiyang and Gui'an New Area show strong momentum in Q1

In the first quarter of 2024, Guiyang city and Gui'an New Area have shown remarkable progress with the commencement of 148 major projects, totaling an investment of 46.41 billion yuan ($6.45 billion).

Efforts have been focused on preparations for spring farming work, which will ensure stable prices and a steady supply of key agricultural products. By the end of the first quarter, the planting area for potatoes will cover 197,000 mu (13,133 hectares) and the vegetable planting area will exceed 480,000 mu.

There has been a concerted effort to develop the advanced equipment manufacturing industry, which will support key enterprises like Hisense Electronics to stabilize production. The value added of the electronic information manufacturing industry is expected to grow by around 8 percent.

Major projects are being accelerated to increase production capacity. Efforts are also being made to encourage aluminum processing enterprises like Huaren New Materials to ramp up production.

Significant progress has been made in attracting investment, with 19.2 billion yuan in funding already secured for new industrial projects and 10.4 billion yuan of industrial funds in place.

In the software and information technology services industry, a revenue growth of about 18 percent is targeted for the first quarter, while the revenue of the internet and related services sector is expected to grow by around 20 percent.