Guizhou's industrial added value grows by 10.5 % in Jan-July

From January to July this year, the industrial economy in Southwest China's Guizhou province maintained stable growth, according to the Guizhou Provincial Statistics Department.

During this period, the added value of industries above a designated size in the province increased by 10.5 percent over the same period of the previous year, 7 percentage points higher than the national average.

Among the 19 key industrial sectors monitored, 11 sectors achieved growth, of which five sectors achieved double-digit growth rates.

The total added value of the four pillar industries of coal, electricity, tobacco and alcohol increased by 18.4 percent year-on-year.

Electricity and heat production and supply maintained steady growth, up 3 percent and 3.5 percent, respectively.

The added value of more than 60 percent of the State-controlled industrial enterprises in the province rose by 25.1 percent over the same period of the previous year, which was 14.6 percentage points higher than the growth rate of the added value of all industries above a designated size.

Corporate profits grew rapidly as well. In the first half of the year, industrial enterprises above a designated size – those with an annual output value of 20 million yuan ($2.9 million) or more – realized a total of 99.31 billion yuan in profits, a year-on-year increase of 38.3 percent.