Xifeng reports industrial economic growth rate of 10.8 percent

Xifeng county in Guiyang, Southwest China's Guizhou province, reported a year-on-year growth of 10.8 percent in the added value of its industries above a designated scale from January to November 2020, putting it third in Guiyang city, according to local media reports.

During the period, the output value of industries above a designated scale hit 6.77 billion yuan ($1.05 billion), and their added value reached 1.28 billion yuan.

In terms of industrial investment, the city's target is 2.7 billion yuan. 2.51 billion yuan was completed from January to November, 240 million yuan was completed in December, and 2.74 billion yuan is expected to be completed throughout the year.

The phosphorus coal chemical industry and the electricity generation and supply industry both achieved positive growth. The growth rates were 14.6 percent and 21 percent, respectively.

Small and medium-sized industrial enterprises above designated size achieved year-on-year growth of 13.1 percent in added value, which drove the growth of the industrial economy above designated size by 7.94 percentage points.

The industrial added value of heavy industries above designated size increased by 13.9 percent year-on-year, and the growth rate was 3.1 percentage points higher than the county's average.