Enterprises Inject Big Investment in Ningxia Development
Enterprises from around the country signed 566 project agreements with Ningxia Hui Autonomous Region with planned investment of 518.829 billion yuan in eight sectors in five cities of the western China province during a business conference in its capital city of Yinchuan on July 12.
Most of the investment will go to energy, chemical industry, metallurgy and construction materials projects (224.239 billion yuan), machinery and equipment manufacturing projects (71.776 billion yuan), business, trade and modern service projects (64.207 billion yuan), and local agro products and food projects (42.494 billion yuan).
ACFIC Vice Chairman Fan Youshan and Ningxia People’s Government Vice Chairman Wang Heshan signed a cooperative agreement on propelling the construction of the Nigxia Silk Road Economic Zone.
ACFIC Chairman Wang Qinmin noted that Ningxia's non-public sector now accounts for over 50% of the local economy and is moving up from traditional low-medium-end to high-end sectors, but with a smaller scale it is still lagging far behind its eastern counterpart. He urged entrepreneurs to seize the opportunities created by the economic zone and step up innovation of technology, management and business models.
Ningxia People’s Government Chairman Xian Hui said the Province offers hot opportunities to investors in modern agriculture, a new-type, complete coal chemical industry chain, all-for-one tourism, and Belt and Road construction.
The conference was attended by over 500 people, including participants of the 10th meeting the 11th ACFIC Standing Committee, as well as representatives of the Ningxia government and private enterprises.