SOE actively contributes to Guiyang's development

A series of projects are signed – designed to boost development in Guiyang. [Photo/ddcpc website]

Guiyang Industrial Development Holding Group Co – a large State-owned enterprise or SOE – is accelerating its activities through more frequent investment, in response to the 2021-25 five-year plan for strengthening the provincial capital city.

The company is based in Guiyang city – capital of Southwest China's Guizhou province – whose development is continuing to gain momentum. The metropolis is widely said to be poised to become a mega-city suitable for living, business and travel by 2025.

To help achieve the goal, Guiyang Industrial Development Holding is said to be planning to fully utilize its ample resources in infrastructure, tourism, digital transformation and asset management, among other sectors.

At present, about 3.43 billion yuan ($536 million) of investment has been deployed and six funds have been established with a total value of 6.82 billion yuan.

Commercial projects that are being attracted to settle in the city are projected to drive investment there of no less than 45 billion yuan over the five-year period, according to Zhang Yulin, deputy general manager of the group.

To expand its new energy ventures, the group is discussing doing business with SVOLT Energy Technology, Shenzhen Yitoa Intelligent Control and other companies. The talks are about new energy vehicle battery storage applications, providing battery replacements and producing new energy vehicle chips, among other things.

Big data is another focus in the business plans of the group. It is actively promoting the launch of a supercomputing center and smart home appliance production plant in the city.

The group also made moves to facilitate urban renewal and tourism development. In one such venture, it will join hands with Beijing Oriental Yuhong Waterproof Technology to build an industrial park.

It also plans to work with Chinese tourism website Mafengwo, having invited it to establish its second headquarters in the Chinese market in Guiyang.