Pingyao aims for breakthroughs in industrial transformation

Pingyao county in North China's Shanxi province will move to further promote its industrial transformation in 2022, according to the local government's plan. 

The county will develop its local industrial parks. Its emerging industrial park is expected to focus on the upgrading and intelligent transformation of the local foundry industry and make efforts to attract five foundry companies to settle new projects there in the current year.

Elsewhere, the green food industrial park will focus on developing a beef production and intensive processing cluster – with a three-year timetable to get the county's meat processing companies to move operations there. Meanwhile, the cultural tourism creative industrial park is aiming to develop into a cultural industrial zone that integrates talent cultivation, customized production, selected artwork exhibitions and tourism sales.

Under the plan, traditional and emerging companies in the county will be expanded. Pingyao is projected to support the construction of 16 traditional company upgrading projects costing 5.1 billion yuan ($807.9 million).

It will encourage traditional companies to increase their investment in R&D, technological process transformations and sci-tech improvements. Moreover, the transformation of traditional foundry and building materials companies – focusing on ultra-low emissions and environmental protection performances – will speed up.

The construction of eight emerging industrial projects, costing a total of 1.45 billion yuan – in the areas of wind power generation, renewable energy development and utilization, as well as the intelligent manufacturing of civil air defense equipment – will be pushed forwards. 

In addition, Pingyao plans to further investment promotions by improving related management and controls, as well as incentives and enforcement mechanisms. It aims to attract total investment worth 8 billion yuan this year.