Guizhou experiences steady industrial growth in H1

In the first half of the year, Southwest China's Guizhou province has made efforts to promote new-type industrialization and maintained steady and rapid growth in its industrial economy.

Guizhou reported a year-on-year increase of 15.2 percent in the added value of industries above a designated size.

The province's industrial investment increased by 19.6 percent year-on-year, 3.4 percentage points higher than the national average and 16.2 percentage points higher than the province's fixed asset investment.

An employee works at a manufacturing shop of Gui Tea Group in Guiyang, capital of Southwest China's Guizhou province. [Photo/ddcpc website]

In an effort to form industrial clusters, Guizhou has rolled out a 2021 action plan on industrial multiplication and a 2021 action plan for its 10 major industrial industries.

Guizhou's 10 major industrial industries are clean and efficient electricity, high-quality alcohol and tobacco, new types of building materials, ecological food, big data electronic information, base materials, advanced equipment manufacturing, basic energy, modern chemical engineering, and health and medicine.

These industries led the construction of 108 key projects, spurring the rapid growth of various industries. The growth rates of the 10 major industrial industries in the first six months all stayed in the double digits.

Over the first six months, 85 industrial enterprises were included in the provincial reserve enterprise resource database for listing, and Guizhou Aerospace Technology Development Co was successfully listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange.

The number of industrial enterprises above designated size – those with annual output value of 20 million yuan ($3.09 million) or more – in the province reached 4,520 in the first half of the year.

In addition, after in-depth research on the existing industrial chain, Guizhou has issued a three-year action plan for investment promotion of the industry and information system industry in Guizhou (2021-2023).

It has organized various production and sales matchmaking activities, developed the industrial internet, and promoted the construction of 5G infrastructure.

In the first six months, the province introduced 462 "excellent and strong" industrial enterprises, and the newly-placed capital for industrial investment was 160.66 billion yuan, a year-on-year increase of 20.1 percent.

Meanwhile, Guizhou has set up a special fund for the development of new-type industrialization, and advanced the establishment of the Guizhou financing risk compensation fund for small and medium-sized enterprises and Guizhou Industrial Financing Guarantee Co to improve corporate financing.

Moving forward, Guizhou will continue to accelerate project construction and increase efforts to support enterprises to promote the steady growth of its industrial economy.