State-owned companies invest to alleviate poverty in Guizhou

A total of 69 State-owned companies in Southwest China's Guizhou province carried out 847 inspections in impoverished areas and offered 360 million yuan ($51.83 million) in direct investment to help with poverty alleviation, according to a news conference recently held by State-owned Assets Supervision and Administration Commission of Guizhou Province.

The 69 State-owned companies also helped to attract 72.95 million yuan in investments and offered thousands of training sessions, with 30,843 people obtaining employment and 27,593 labors going to other provinces. These corporations also developed 490 poverty alleviation projects.

For instance, Guizhou Kailin Holdings (Group) Co invested 12 million yuan to implement pig, chicken and fish breeding projects in Qiandongnan Miao and Dong autonomous prefecture's Rongjiang county.

Guizhou Power Grid Corp invested 2.98 million yuan to build an asparagus schoberioides planting base in Anshun's Ziyun county. So far, the base has sold 10,500 kilograms of asparagus schoberioides with a total value of 63,000 yuan and helped 39 locals secure employment.

By June, the Bank of Guizhou had provided a loan of 22.5 billion yuan to strengthen weak industries, support rural tourism development and implement poverty alleviation projects in 12 impoverished areas. These funds were also used to advance epidemic prevention and control measures.

From January to June, the canteens of Guizhou's State-owned companies purchased 24.96 million yuan of agricultural products from impoverished areas, making up 67.91 percent of the total purchase amount.

Meanwhile, Guizhou's State-owned companies used their online and offline sales platforms to sell 240 million yuan of vegetables, fruits, grains, oil and meat products in the first half of the year.

At present, State-owned Assets Supervision and Administration Commission of Guizhou Province has organized 700 workers from the 69 affiliated companies to help alleviate poverty in 497 impoverished villages across 66 counties.

According to Shen Yong, deputy Party secretary of State-owned Assets Supervision and Administration Commission of Guizhou Province, the commission will continue to encourage its affiliated companies to contribute to poverty alleviation and rural revitalization.