Guangxi focuses on tertiary industry development

From 2015 to 2018, Guangxi Zhuang autonomous region arranged special funds for tertiary industry development, totaling 1.05 billion yuan ($151.26 million), to support 266 service industry projects.

The special funds for the tertiary industry were mainly earmarked to be used for the development of emerging service industries, the upgrading of consumption, and the construction of service industry clusters.

The total investment of the tertiary industry projects is 66.1 billion yuan, and the actual accumulated investment is 32.6 billion yuan.

A total of 105 projects, including Yanjing Beer (Guilin Yiquan) Production Service Base, Liu Gong Global R&D Center and Beibu Gulf Marine Science and Technology Innovation Port (Phase I), have been completed and put into production, which has accelerated the development of the tertiary industry in the region.

According to statistics, the added value growth rate of the tertiary industry exceeded the secondary industry for the first time since 2015. In 2016-2017, the tertiary industry maintained a growth rate of more than 1 percentage point above that of the secondary industry.

In 2018, the tertiary industry's value-added growth rate reached double-digit growth, which increased by 9.6 percent in the first three quarters, 4.6 percentage points higher than the secondary industry, and accounted for more than 45 percent of GDP.

Over the next year, the special funds for the development of the tertiary industry will be used to develop production service industries such as science and technology services, software information, financial services, business services, human resources, energy conservation and environmental protection, and will promote the circulation of modern logistics, modern commerce and e-commerce. It will also upgrade consumer services such as tourism and leisure, healthy pension, education and training, culture and sports, and housekeeping services.