Two Pingyao companies win private company awards

The Party committee of the city of Jinzhong, Shanxi province and the municipal government, recently announced their of Jinzhong Top 10 Private Companies list, with two Pingyao county companies – Pingyao Coal Chemical (Group) and Pingyao Beef Group – joining the list. The two went through reforms in the 1980s and’ 90s, going from State-owned to private companies and, since then, have seen further reforms to encourage enthusiasm and creativity among their personnel and release developmental energy.

Pingyao Coal Chemical now covers many areas in coal mining, coking chemicals, gas, new building materials, rail transport, sales, logistics, real estate, ecological development, tourism, finance, trade, the culture industry, new optical materials, and gangue papermaking, with a total of 32 subsidiaries with more than 5,000 employees, and assets amounting to 3.5 billion yuan.

Pingyao Beef inherited traditional beef production methods and combined them with modern technology to put beef production on the road to industrialization. It also became a large meat producer that integrates forage grass, breeding, slaughtering, production, and sales, along with industrial tourism. It has 840 employees and annual sales of 500 million yuan.

Edited by Roger Bradshaw