Guizhou makes strides in industrial development in 2023

In 2023, Guizhou province achieved strong results in industrial development, with the industrial economy making an impressive rebound. The growth rate of the added value of industries above designated size in the province steadily increased as well, consistently surpassing the national average growth rate for industries.

The proportion of industrial added value and manufacturing added value to the regional gross domestic product (GDP) reached its highest level since the 13th Five-Year Plan (2016-20), further enhancing the role of the industry in supporting the overall economic growth of the province.

The momentum of industrial development significantly strengthened. Industrial investment maintained a double-digit growth rate, markedly higher than the overall fixed asset investment growth rate in the province. Its share of the total investment further increased to around 30 percent, a near-decade-high.

Guizhou strived to build a modern industrial system by advancing the construction of industrial bases for six major industrial sectors, including resource-intensive processing bases, research and production bases for new energy power batteries and materials, and baijiu production bases.

The province introduced a total of 62 new projects focusing on the research, development, and production of new energy power batteries and materials. Additionally, there were 468 newly-introduced projects in the comprehensive energy industry and 309 in the computing power guarantee industry.

Statistics showed that the output value of industries above designated size from the six major industrial bases is estimated to exceed 800 billion yuan ($111.20 billion) during the period.