Guizhou's equipment manufacturing industry enjoys steady growth

From January to February of this year, Southwest China's Guizhou province's equipment manufacturing industries above a designated size -- those with annual sales of 20 million yuan ($3.05 million) or more -- achieved strong growth momentum.

The added value of the industries increased by 41.6 percent over the same period during the previous year, and the growth rate was 14 percentage points higher than that of the province's industries above a designated size.

Over the two months, seven of the eight major industries included in the equipment manufacturing sector achieved growth and the growth rate exceeded 20 percent.

The automobile manufacturing industry has continued its high-growth trend since the second half of 2020 due in large part to the implementation of the automobile consumption encouragement policy, demonstrating the recovery of the domestic passenger car market.

During the period, the value added of automobile manufacturers above the designated size increased by 96.2 percent year-on-year, and the growth rate was 3.5 times that of the province's industries above a designated size.

Also, the added value of railway, shipbuilding, aerospace and transportation equipment manufacturers above the designated size experienced a year-on-year increase of 34.5 percent.

The electronic information manufacturing industry has recovered significantly, with its added value increasing by 68.3 percent year-on-year.

In addition, the metal products industry is continuing to operate steadily. Its added value accounted for 24.9 percent of the equipment manufacturing industry, a year-on-year increase of 20.5 percent.