Xinhua Silk Road: S. China Guangxi’s industrial park promotes major projects, forges featured industrial clusters

In the first quarter of 2022, the industrial park of Laibin City in south China’s Guangxi Zhuang Autonomous Region has made a total industrial output value of 7.76 billion yuan (about 1.163 billion U.S. dollars), up 11.2 percent year on year, with its fixed asset investment increasing 20 percent year on year to 931 million yuan.

Contributing to the handsome start, the park has been striving to ensure the projects’ construction progress and production efficiency since the beginning of this year, supporting enterprises in financing, employment, power supply, gas supply, etc.

At the same time, the park has made active efforts in exploring new models for investment promotion through innovative implementations of equity investment, industry alliance investment, big data investment and supply chain financial services.

In the first quarter, the park has seen 1.6 billion yuan investment in place and nine newly signed projects with a total contract investment of 9.56 billion yuan. Seven among the nine projects worth more than 100 million yuan. The park has also made effective connections with ten enterprises and two business associations for potential investment.

In recent years, the industrial park has been continuously accelerating the construction of major projects and promoting industrial revitalization through forging six featured industrial clusters, namely ecological aluminum and electricity, ecological smelting, light industry of food and medicine, electronic information, digital economy, and green building materials.

Relying on the rich mineral resources of Laibin, the park has facilitated the formation of an ecological smelting industrial cluster, which aims to grow into a national new energy battery material base with the support of leading local enterprises in the field. The park has also developed an industrial cluster of light industry including food and medicine, featuring the comprehensive utilization of sugar-refining industry.

In the year 2021, the total industrial output value of the park has topped 31 billion yuan, up 26.1 percent year on year, with the economic growth rate exceeding 20 percent for two consecutive years.

Established in 2004, the industrial park is now home to 218 enterprises, 89 of which are industrial enterprises above designated size and 35 high-tech enterprises.