Shanxi sees rapid industrial growth in first three quarters of 2020
The added value of industrial enterprises above designated size – those with annual revenue of 20 million yuan ($2.8 million) or more – in Shanxi province during the first three quarters of 2020 increased 3 percent year-on-year, 1.8 percentage points higher than the national growth rate, according to a report published by Shanxi Daily on Oct 28.
Thanks to the continuous optimization of the local business environment, steady progress of project investment and construction, Shanxi's traditional industries gradually recovered from the impact of the COVID-19 pandemic, and emerging industries continued to grow.
Among industrial enterprises above designated size, the mining and traditional manufacturing sectors' added value increased by 4.5 percent and 2.6 percent, respectively.
As for emerging industries, the communication equipment and new energy equipment manufacturing sectors grew 7.9 percent and 5 percent, respectively, both higher than the province's total industrial added value growth rate. The high-tech manufacturing sector rose 5.2 percent, which was 0.9 percentage points higher than the first half of the year.
Since the beginning of this year, Shanxi has introduced a series of policies and measures to support the traditional steel, nonferrous metals and coking industries and accelerate their digital, networked and intelligent development. The province is also striving to build 14 leading industrial clusters focusing on the sectors including semiconductor, advanced rail transit and IT application innovation .
So far, 10 coal mines and 50 comprehensive mining platforms across the province have carried out intelligent renovations, with the proportion of advanced production capacity in the mining industry increasing.
Leading innovative enterprises such as Huawei Technologies Co, Baidu Inc and China Electronics Technology Group have launched businesses in Shanxi. Meanwhile, the province's own IT application innovation enterprises have increased.