Guizhou sets up new-type industrialization development fund

In 2021, Guizhou provincial finance will arrange 7 billion yuan to set up the Guizhou new-type industrialization development fund, according to a news conference held by the province on July 12.

Guizhou holds a news conference on provincial finance supporting new-type industrialization development on July 12. [Photo/Guiyang news network]

The Guizhou new-type industrialization development fund is composed of 4 billion yuan in provincial new industrialization development special funds, 2 billion yuan in provincial support industrial development platform funds, and 1 billion yuan in provincial big data development special funds.

It will mainly focus on the province's leading industrial and big data industries, as well as ten major industries, modern manufacturing service industries, frontier technology industries, and national characteristic light industries.

In the first half of the year, 1.65 billion yuan from the provincial-level State-owned capital operating budget was allocated to State-owned enterprises to promote their transformation, upgrading, and high-quality development.

A special fund of 83 million yuan for the development of small and medium-sized enterprises (SMEs) in the province has also been issued to support the transformation and upgrading of SMEs.

With the help of financial and other funds, the province's industrial growth rate has maintained a steady and rapid growth rate, and progress has been made in new-type industrialization.

In the first five months of the year, the province's industrial added value above designated size increased by 18 percent year-on-year, 0.2 percentage points higher than the national growth rate.