Guizhou reports stable industrial economy in May

In May, Southwest China's Guizhou province rolled out implementation plans to relieve industrial enterprises in the province, with its industrial economy showing a stable and positive trend.

The added value of the province's industries above a designated size increased by 11.8 percent year-on-year in May, an increase of 1.9 percentage points from the previous month and 11.1 percentage points higher than the national average.

A worker inspects products at a factory of Lesso Technology Development (Guiyang) Co in Guiyang, capital of Guizhou province. [Photo/Guizhou Daily]

During the month, 24 of the province's 39 major industries achieved growth, with 14 achieving double-digit growth.

The province's alcoholic beverage and tobacco industries above a designated size maintained rapid growth, the coal industry production recovered steadily, and operating pressure in the power industry eased.

The total added value of the four industries increased by 21.5 percent year-on-year, accounting for 63.3 percent of that the province's industries above a designated size.

The growth of the high-tech manufacturing industry accelerated as well, with its added value up 22.5 percent year-on-year.

In addition, the added value of the new energy battery and material industries above a designated size grew by 37.8 percent year-on-year, 26 percentage points higher than the provincial average.

Meanwhile, industrial exports continued to improve. In May, the export delivery value of industrial enterprises above a designated size came in at 2.48 billion yuan ($371.19 million), a year-on-year increase of 34.4 percent and a new high for the month since the outbreak of COVID-19 in early 2020.