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Guizhou sees industrial growth in first eight months of 2020

chinadaily.com.cn| Updated: 2020-11-23 Print

The added value of industries above designated size in Southwest China's Guizhou province has maintained growth during the past eight months. The growth rate in October was 7.2 percent year-on-year – the highest growth rate since April.

The total added value from January to October increased by 3.3 percent year-on-year, which is 1.5 percentage points higher than the national level and 0.6 percentage points higher than the average level in West China.

In October, 55 companies became above the designated size, with annual revenue of more than 20 million yuan ($3.04 million), which is 23 more than the same period last year.

Guizhou has pushed forward industrial upgrades in rural areas, focusing on 12 featured agricultural industries. In October, the added value of food processing from agricultural product companies above the designated size increased by 15.8 percent year-on-year.

Traditional industries such as alcoholic beverages, coal and basic materials maintained steady growth in October. As the largest industry in Guizhou, the alcoholic beverage industry contributed about 30 percent of the added value of Guizhou's industries above designated size in October.

The equipment manufacturing industry above the designated size in Guizhou increased by 11.4 percent year-on-year in October. The industry's total added value in the first 10 months of this year increased by 1.3 percent year-on-year.

Since the second half of this year, the automobile manufacturing industry above the designated size has maintained a growth rate of more than 45 percent. In October, Guizhou produced 8,400 vehicles, an increase of 118.4 percent year-on-year.

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