ZCZC
BCN-23
CHINA-ECONOMY-MANUFACTURING
Inv’t in manufacturing industry remains growth in China’s provinces in Q3
BEIJING, Nov. 15, 2018 (BSS/Xinhua) – Guizhou, Heilongjiang and other
provinces in China have released the economic data of the third quarter
recently, showing that investment in manufacturing industry grew fast.
Data shows that the country’s on-going supply-side reforms have yielded
results, and manufacturing investment confidence has continued to recover.
Industry insiders believe that the trend is expected to continue.
According to Guizhou Provincial Development and Reform Commission, the
province’s investment growth rate in the first three quarters is still on top
in the country.
Data shows that the investment in equipment manufacturing industry in
Guizhou increased by 25.5 percent in the first three quarters. Investment in
information transmission, software and information technology services
related to big data increased by 53 percent, while investment in eco-
environment industry related to large ecology increased by 30.7 percent.
Likewise, Heilongjiang Province saw continuous growth in the manufacturing
investment. The province’s high-tech industry investment continued to grow in
the first three quarters, with high-tech manufacturing investment increasing
by 4.2 percent and high-tech service investment increasing by 5.2 percent.
It is worth noting that the foreign-invested manufacturing is recovering in
Guangzhou. A total of 113 new foreign-invested enterprises in the
manufacturing industry were established in Guangzhou in the first three
quarters of this year, an increase of 52.7 percent year on year, and the
actual use of foreign capital in the city’s manufacturing industry increased
by more than 200 percent year on year.
478 foreign-invested enterprises in Guangzhou, including well-known
enterprises such as GAC Toyota, Shell and Hitachi Elevators, increased their
capital from January to September this year, up 68.9 percent year on year,
and the total contracted foreign investment was 4.55 billion U.S. dollars.
Foreign investment in manufacturing enterprises is of vital importance to
the rapid and high-quality development of manufacturing industry in
Guangzhou. In addition, the increased capital and shares by the foreign
investors in joint ventures fully demonstrated the growing confidence of
foreign companies in investing in the Chinese market, said an official from
Guangzhou Municipal Commission of Commerce.
BSS/XINHUA/HR/1330