Industries report continued growth in Shanxi
The added value of North China's Shanxi province's industrial companies above a designated size -- those with annual revenue of 20 million yuan ($2.86 million) or more -- has increased for three consecutive months since March, according to local officials.
They said a sustained economic recovery in Shanxi had been supported by the steady recovery of the local pillar industries.
In May, the added value of the coal, coking, steel, equipment manufacturing, building materials, thermal gas and coalbed methane extraction industries all rose. Officials said they increased by 3.6 percent, 6.4 percent, 10.7 percent, 1.6 percent, 5.5 percent, 37.1 percent and 5.2 percent respectively year on year.
Emerging industries also contributed to the rebound in Shanxi. The communications equipment manufacturing and new energy equipment manufacturing industries grew 6.8 percent and 10.8 percent respectively. The output of electronic components, optical cables and photovoltaic cells in the same period was up 110 percent, 90.3 percent and 22.6 percent, respectively.
Due to the impact of the novel coronavirus pandemic on the economy, Shanxi has taken a series of measures to boost commerce and promote the return to operations by local companies.
Officials said the coal-rich province has been stabilizing the growth of its key industries.
For example, it has accelerated the transformation and upgrading of traditional coal chemical industry by cultivating the carbon-based new materials industry, exploring the classified utilization of coal and promoting the completion of key coal chemical projects.
The Shanxi Department of Industry and Information Technology helped solve the difficulties in the production and operation of local enterprises in a timely manner.
It implemented policies and services targeting companies and worked to help demand-supply matchmaking of enterprises, to ensure their stable operation and increasing production.
In addition, Shanxi has been advancing project construction and promoting investment on a massive level. By the end of May, there were 9,818 projects with a total investment of 3 trillion yuan under construction in the province.