Xifeng records industrial economic growth in Q3

A night view of Xifeng county in Guizhou province [Photo/Xifeng Convergence Media Center]

The added value of industries above a designated scale in Xifeng county, Guiyang city, Southwest China's Guizhou province, reported a year-on-year growth of 13.9 percent in the third quarter of 2020, according to the county's industry and information technology bureau.

The figure made Xifeng one of the top performers in Guiyang city. 

Overpasses have been built in Xifeng county to enhance its transportation network. [Photo/XifengConvergence Media Center]

Through the iterative upgrading of industries and the introduction of new projects, the industrial structure of Xifeng county has been continuously optimized.

The traditional industrial production capacity of Guizhou Linhua Group has been reduced to below 40 percent. Projects such as anhydrous hydrogen fluoride and calcium salt are being implemented in an orderly manner.

Breakthroughs have been seen in emerging industries. The Guiyang chemical medicine base has settled in Xifeng with a total investment of approximately 1.29 billion yuan ($197 million). It is estimated that it will take about 15 years to reach an additional sales income of more than 40 billion yuan.

The county has made every effort to provide services for the business environment, and established fast channels to reach out to enterprises.

It has promoted exchanges and cooperation between banks and enterprises by convening joint meetings of financial institutions, plus government-bank-enterprise forums to effectively reduce corporate financing costs.

Since the beginning of this year, Xifeng county has solved 106 difficult problems for industrial enterprises, handled 68 entrusted matters, and raised 180 million yuan for the companies.