Heilongjiang industrial growth powers Q1 record

09:09, June 07, 2010      

Email | Print | Subscribe | Comments | Forum 

Heilongjiang province in northeast China flourished as a center of heavy industry more than half a century ago. It would later become the nation's "rust belt' with aging, unproductive factories, inefficient management and high levels of unemployment.

Yet today it is resurging. Since 2002 the province has maintained double-digit growth for eight consecutive years. In 2009, its GDP reached 828.8 billion yuan, growing 11.1 percent over the previous year, some 2.4 percentage points higher than the national average

This year it continued to show strong growth of 12.8 percent in the first quarter.

According to the provincial statistics bureau, Heilongjiang's GDP in the first three months reached 186 billion yuan, the best first quarter performance since 1992 when quarterly GDP figures were first released publicly.

The figure is 30.3 billion yuan higher than the first quarter of 2008 and 1.2 percentage points more than the previous record set in the first three months of 2007.

The major contributor to record quarterly performance was the manufacturing industry, which increased output by 13 percent to 87.55 billion yuan.

Manufacturing operations not only grew, but were also more efficient, registering pre-tax profits of 45.95 billion yuan, an unexpected growth of 98.2 percent over the first quarter of 2009.

The province's four pillar industries - equipment production, petrochemicals, energy and food processing - continue to be the engines driving the province's economy,

Combined business revenues of the four sectors reached 171.47 billion yuan, an increase of 43.3 percent over the same period of 2009. Their total net profits were 21.89 billion yuan, up 109.9 percent.

The Heilongjiang Committee of Industry and Information Technology - the province's industrial regulator - said the upward growth will be further consolidated in the second quarter as a result of the nation's continuing stimulus policies and the province's own initiatives.

The committee further predicted that the industrial output value of the manufacturing sector for the whole year would increase by 445 billion yuan, 14.6 percent more than last year.

The province's own stimulus initiatives include support to emerging industries such as new materials, energy conservation and environmental technologies, biologics and information, according to information released by the committee.

As well, the province has offered financial aid for technological upgrades for traditional industries like petrochemicals, energy and metallurgy; as well as encouragement of private investment in almost every possible industry.

Echoing to the central government's latest policy to support private businesses, Heilongjiang also plans supports that including loan guarantees and funding for R&D.

Industrial strength

Since the founding of the New China in 1949, Heilongjiang has produced two-fifths of the nation's crude oil, half of its railway freight cars, one-third of timber, one-tenth of its coal and one-seventh of grain produced. The province has also made large quantities of heavy civil and military equipment for the nation.

In the last two decades of the past century, Heilongjiang's industries began to fail due to outdated management and technologies as well as the planned economic model already discarded by the fast-growing coastal regions.

Its industries have been given new vigor since the central government implemented new policies and incentives at the turn of the century.

Source: China Daily

(Editor:黄硕)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Giant red lantern lights up in Tiananmen Square to celebrate the coming National Day on Oct. 1. (Xinhua/Li Xin)
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
Hot Forum Discussion