Shaanxi Achieved Economic Growth by 8.1% in the First 3 Quarters
Shaanxi Achieved Economic Growth by 8.1% in the First 3 Quarters
Date: 2017-11-6

Shaanxi Achieved Economic Growth by 8.1% in the First 3 Quarters 

 

The Shaanxi provincial economic report of the 3rd quarter released on Oct 24 showed that under the guidance of the concept of new development, Shaanxi has maintained the steady and fast growth in economy, with more active elements added for continuous growth, stability consolidated, positive conditions highlighted and new power strengthened. On the basis of quality first and benefits foremost, Shaanxi is making advance and trying to overtake its peers with strong steps.

Adherence to High Quality Development

8.1%, 1.2 percentage points higher than the average rate of China!

The economic rate of Shaanxi in 2017 keeps growing at a rate of above 8%, highlighting its tenacity. Consolidating the foundation for better economic situation, Shaanxi adheres to high-quality development.

On Aug 30, Shaanxi Provincial Government signed cooperation agreement with South Korea’s Samsung Electronics, which is going to invest US$7 billion in the second phase of memory chips in Xi’an Hi-Tech Industries Development Zone to increase its production of memory chips.

On Sept 14, “Hualong No.1”, full-automatic numerical control refueling machine , the first of its kind in the world, was manufactured in Shaanxi, which not only reinforces the new generation of nuclear power in China but also presents a dazzling visiting card for China’s nuclear power technology to the world.

With a view to better and faster economic growth, Shaanxi is expediting the development of manufacturing, new and high technology. Equipment manufacturing industry is having its prestigious status consolidated focusing on high-end and intelligence performance and service; the energy chemical industry is implementing industrial technology innovation to promote the high-end performance and clustering effect. More and more “Made-in-Shaanxi” enterprises are going global: In the infrastructure sector, Shaanxi-based China Railway No. 20 Engineering Group has registered localized companies in 5 countries and had 38 projects in construction in 6 countries; in equipment manufacturing sector, Shaanxi Fast Auto Drive is expediting its globalized distribution, with its products appointed to be supporting products for more than a thousand types of vehicles of some 150 main engine factories; in energy building sector, Shaanxi Coal and Chemical Industry Group has made planning for setting up a number of oil refinery, coal chemical industry and coal and electricity integration programs in the countries along the “Belt and Road Initiative”, with a total investment of US$1.58 billion… In information technology and new and high technology, apart from Samsung, other renowned enterprises such as BYD Auto, Coolpad, ZTE have set up smart terminal manufacturing program in Shaanxi. The IT industry is expected to achieve an output value of 95 billion yuan for 2017.

Private sector is an important force to boost the healthy sustainable development. In the first three quarters, the private investment of Shaanxi Province turns from a fall of 3.8% to a rise of 6.1%, which reflects the increased vitality of private sector. Since 2017, Shaanxi Province has deregulated investment, deepened the reform of “opening-up, deregulation, and service”, cultivated a new type of “close” and “clean” relationship between governments and businesses, solved the financing problems of businesses, issued the Opinions on Innovative Development of Small and Medium-sized Private Enterprises in Shaanxi Province, expedited the implementation of the action plan of “A Thousand Models and Ten Thousand Transformation” for small and medium-sized private enterprises. So far, there are nearly 2 million micro- and small-sized enterprises in Shaanxi, accounting for 92% of the total market entities of the province and becoming the main force in this sector.

Economic Structure Keeps Being Optimized

An optimized structure is more important than a growth of pure high speed.

In the first three quarters, Ankang City has maintained a rapid growth in economy, with 6 main economic indicators, i.e., growth of GDP, added values of industries of scale, investment of fixed assets, total retail sale of consumer goods, per capita disposable income of rural residents and proportion of private sector in total economy, ranking No. 1 of the province.

In South Shaanxi, based on “landscape, forest, field and lake” advantages, three cities, namely, Ankang, Shangluo, Hanzhong, keep developing the “Ecology+” road for cyclic development by which modern agriculture, rural village tourism, new materials, aeronautical manufacture, medical apparatus and instruments have been upgraded and transformed and distributed multiply. All the three cities are making endeavors to fulfill the goal of building the national comprehensive reform demonstration zone for ecological civilization.

In Central Shaanxi, a development pattern has been formed where all the cities work in a concerted and differentiated manner. 166 programs of collaborative innovation are in operation, with advanced manufacturing and air service mutually promoted and rapidly developed.

In North Shaanxi, energy chemical industry keeps developing toward high-end performance, and new business models are created in featured agriculture, communist-themed cultural tourism, logistics and trade. To build a diversified industrial structure has become the new growth point for economy in North Shaanxi.

New structure is being formed, and new pattern is in shape. The optimization of regional economic structure has greatly promoted the common progress in the three major areas of Shaanxi. With collaborative innovation in Central Shaanxi, ongoing transformation in North Shaanxi, and green circular economy in South Shaanxi, the total province has presented a new look of vitality in economic development.

To optimize the industrial structure is the key task for expediting transforming economic development.

This year, the unmanned aerial vehicle service of Jingdong Group, the second largest e-commerce business in China, has initiated the normalized service in logistics distribution in Xi’an. The UAV logistics network is the core component of the smart logistics industrial chain which are jointly created by Jingdong Group and Xi’an spaceflight base. Both sides will make an overall and systematic arrangement for the smart supply chain. In the coming five years, Jingdong will make an investment of 20.5 billion yuan to make Xi’an the biggest comprehensive smart logistics base for the company in China.

By promoting the development of modern service industry, Shaanxi will push forward the optimization of economic structure. The figures of the first three quarters have shown that the tertiary industry of Shaanxi has achieved a significant growth, with added value of 679.541 billion yuan realized, or a year-on-year growth of 9.5%.

Growth Momentum Is Expedited

Only with strong driving force can the economy grow steadily and for a long time.

On Oct 12, Xi’an Artificial Intelligence and Robot Industrial Base was settled down in Xi’an Economic and Technological Development Zone, which will promote smart manufacture and build the robot industrial cluster of tens of billions yuan scale.

On July 18, Geely New Energy Automobile Industrialization Program settled down in Xi’an, becoming the landmark high-end equipment manufacture project in the city.

To cultivate emerging industries has become a trend all over Shaanxi. Baoji City is building “China Robot Industrial Base for Self-owned Technology Key Parts and Components”, Yulin City is promoting wind and photovoltaic power generation, Weinan City is building new energy battery production base, with a great number of projects of new energy and whole unit auto settled down…With the drive of expediting emerging industry, new business models and policy of supply-side reform, Shaanxi has gathered great force for driving its economy forward.

In the first three quarters, major products such as industrial robot, smart phone, new energy auto that reflect the new driving force of industries have maintained a fast growth, 5.6 percentage points higher than that of new and high technology industries of scale that achieved a growth of 13.3% in added values. Investment in emerging industries has kept a fast growth. Investment has increased by 47.6% year on year in new materials, 32.8% in new generation of information technology, 30.5% in biological industries, and 20.3% in cultural industries.

Of the three drivers of economy, consumption is playing a bigger role. In the first three quarters, total retail sale of consumer goods of Shaanxi has grown by 12.0% year on year, reaching the highest point since 2015. The rapid growth in total retail sale of consumer goods has become a mainstay for the steady operation of the current economy.

The development concept of “Internet +” has gained its popularity in Shaanxi: in Shanyang County, enterprises of scale have applied e-commerce to promote the sale of walnuts, tea, and konjak; Wugong County, known as “No. 1 County of E-commerce in Northwest China”, has established 57 service stations for Taobao.com, the largest e-commerce business of China; in North Shaanxi, Alibaba and Jingdong, the two giants of e-commerce of China have vied for expansion to promote the economic development in the former Chinese revolutionary areas.

The report of the 19th National Congress of Chinese Communist Party points out that China’s economy has been in a stage where a growth of high speed is being shifted to a growth of high quality, with modes of development being changed, economic structure being optimized and driving force being transformed. Following the spirit of the report, Shaanxi is now striving to achieve the higher quality, more effective, fairer and more sustainable development.

 

 

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