Pingyao industrialization moving forward

In spite of the sluggish economy, the leading agriculture companies of Pingyao county, Shanxi province, have continued to grow relatively rapidly and, over the past 11 months, have done 2.65 billion yuan ($436 million) in sales and had 4.1 billion yuan in output value in 80 of these companies.

The figures for the entire year are expected to reach 2.8 billion and 4.4 billion yuan. The county has helped support these enterprises in various ways this year, helping a number of them, such as the Shanxi Yubing Trade Co and the Higrand Biotech Co with industrialization.

Five other companies, including the Pingyao Beef Group, got discount loans and more than 3.6 million yuan in funding to complete expansion and other new projects for technological improvements that cost nearly 100 million yuan while 30 others have put 1.5 billion yuan into increasing production capacity.

There have also been efforts at brand building and products from two of the companies have applied for the “pollution-free agricultural product” designation.

More than 20 companies took products to the Shanxi Agricultural Products Trade Fair, in Beijing, the 3rd Shanxi Agricultural Products Trade Expo, Ningxia Agricultural Products Trade Fair, and 9th China Agricultural Trade Fair, and signed 600 million yuan worth of contracts and sold 200 million yuan worth of goods, exposing Pingyao products to a greater market.

Total assets of these Pingyao enterprises amount to 1.3 billion yuan and they have become a major source of farm incomes by hiring 18,000 workers and dealing with 70,000 farmers.