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Hunan Industrial Economy Maintains Sound Development Momentum in 2018

2019-01-17 Download Print Comment
The Hunan Provincial People’s Government Information Office held a press conference on January 15,2019. Huang Xuegong, chief engineer of the Hunan Industry and Information Technology Department, announced that Hunan's industrial economic operation maintained good development momentum in 2018. The growth rate was higher than the national average; the ranking was higher; and the structure kept optimizing.
Hunan has stabilized growth expectations and its industrial economy generally achieved the goal set at the beginning of 2018. Between January and November last year, the provincial industrial added value above designated size increased by 7.1%, moving up 5th places in nationwide ranking, and ranking 3rd among the top 10 provinces in terms of GDP.
The advantages of industry emerging industrial chains are further manifested. The CPC Hunan Provincial Committee and the People’s Government of Hunan Province leaders took the lead in contacting advantageous industry emerging industrial chains. A large number of leading industrial chain enterprises and key projects were newly introduced to Hunan, showing a vigorous development momentum.
The “Year of Industrial Project Construction” activity has spurred industrial advancement. The first three groups of 150 key manufacturing projects are progressing smoothly, and 110 major product innovation projects started construction. In the first 11 months of 2018, Hunan industrial and technological transformation investment growth rates ranked first in China.
The supply-side structural reforms have achieved new results. The province managed to close down and merge a number of enterprises, and shift business lines, and take various measures to reduce costs and strengthen areas of weakness, enabling them to realize high-quality development.
Innovation drives integrated development. A group of projects, platforms, and enterprises have been included in national-level innovation projects and pilot demonstrations. Many military scientific and technological research projects have been approved, and relevant military trade products passed export-related project approval.
The enterprise business environment has been greatly improved. The targeted poverty alleviation activities of 100 Hunan large-scale backbone enterprises, and the serial industrial opening up and cooperation events all achieved fruitful results. Power market reform has been promoted to further reduce enterprises’ electricity costs. The mechanism for reducing the burdens on enterprises has been improved.
This article is from Hunan Provincial Government. 
Translator: Yu Jiangjiang
Chinese source: