Industrial growth in 2017

Updated: Mar 19, 2018 Print
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Since 2017, Sanmenxia has continued to expand its supply-side structural reforms and optimize its industrial structure. Its industrial economy has maintained overall stability and achieved steady progress. The value added of its industries has reached 62.252 billion yuan ($9.86 billion), a 9.1 percent increase over the same period last year. The city's growth rate is also the highest in the province, 1.1 percent above the province's average.

Traditional industries have played a significant role. Seven traditional industries, including non-ferrous metals mining and dressing, heat production and supply, coal mining and washing, non-metallic mineral products, food manufacturing, and agriculture achieved a total industrial value added of 43.164 billion yuan, accounting for 69.3 percent of above-scale industries. This represents an increase of 12.9 percent year-on-year, 3.8 percent higher than the city's overall industrial growth rate. These industries contributed 96.3 percent of the city's total industrial growth and increased the city's overall growth rate by 8.9 percent.

With newfound energy, transformations and improvements have become more effective, and industries have been emerging at an increasing rate. 

In 2017, a total of 62 industrial enterprises above the designated size emerged in the city, with an industrial value added of 2.619 billion yuan. This was a year-on-year increase of 14.2 percent, higher than the city's average growth rate of 5.1 percent. These industries accounted for 4.2 percent of the total value added among all above-scale industries, an increase of 0.6 percent over the same period last year. 

The high-growth manufacturing industry has steadily improved. In 2017, the growth rate of the city's high-growth manufacturing industry increased by 16.2 percent. This is a 3.1 percent increase over the same period last year and 7.1 percent higher than the city's average growth rate. High-tech industries continue to grow as well. 

In 2017, the value added of the city's high-tech industry increased by 12.9 percent year-on-year, which is 3.6 percent above the same period last year, and 3.8 percent higher than the city's average growth rate.

Supply-side structural reform steadily progressed and the quality of operations improved. In 2017, the structural reform of Sanmenxia's industrial supply side saw immediate results, with 14 coal mines closed, 2.4 million tons of excess production eliminated, and destocking accelerated. Company losses have narrowed as reforms have begun to take effect.

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