Shanxi releases development plan for light industry


North China's Shanxi province aims to generate 75 billion yuan ($10.73 billion) in major business revenue from light industry this year, achieving year-on-year growth of over 6 percent, according to the 2020 development plan for the sector recently released by the Shanxi Economy and Information Committee.

Officials said Shanxi will promote the development of 32 key companies and the construction of 20 key projects, with the project completion rate exceeding 70 percent by the end of the current year.

The province is looking to improve local light industry by improving public infrastructure, optimizing support facilities and services and enhancing its industrial parks' carrying capacity.

It will aim to help increase the ability of companies to innovate, cultivate leading enterprises and strengthen small and medium-sized businesses -- guiding them to boost brand awareness and encouraging them to formulate brand development plans and increase brand promotions. 

Officials said that in addition, Shanxi will increase its policy and funding support, to facilitate the development of key light industry projects and the development of companies in the industry.