Investment fosters socioeconomic development in Shanxi
Updated: 2020-08-04
Fixed asset and industrial investment in North China's Shanxi province showed accelerated growth month by month in the first half of this year, with the optimal investment flows.
According to the Shanxi Statistics Bureau, fixed asset investment increased 8.3 percent year on year between January and June and the growth rate was 5.8 percentage points faster than that of the first quarter.
During the period, investment in the province's primary industry surged 48.5 percent year on year. Investment in the secondary industry and the tertiary industry grew 11.6 percent and 4.3 percent, respectively.
Officials said industrial investment in the province increased 12.0 percent in the period, compared to last year. Among the industries, the investment in food, power and the equipment manufacturing sectors increased 20.7 percent, 40.8 percent and 16.9 percent, respectively.
They said that as more projects and companies resumed operation and production, the contribution made by investment in industrial projects to the total fixed asset and industrial investment became more prominent.
Total investment in projects in development zones at the provincial level and above grew rapidly in the six months and the investment growth rate of seven out of 11 cities in the province exceeded the provincial average.
Moving forwards, Shanxi will next accelerate the construction of projects that have a major impact on its socioeconomic development, officials said.
It will also improve project carriers, optimize the business environment and enhance local development zones' carrying capacity and resource utilization rates.
Meantime, the province will encourage local enterprises to increase their investment in technological transformation. It will instruct traditional industries to improve their innovation capabilities and the commercialization of technological achievements, as well as promote the transformation and upgrading of manufacturers.
In addition, efforts will be made to make up for shortcomings in such areas as infrastructure, rural revitalization, poverty alleviation, pollution prevention and environmentally friendly developments -- and the province will accelerate the rollout of its digital infrastructure, officials added.