Guiyang SOE targets high-quality development of manufacturing industry

Guiyang Industrial and Commercial Investment Group, a State-owned investment enterprise, has targeted a batch of high-growth and promising enterprises and high-quality projects, aiming to promote the high-quality development of the local manufacturing industry and facilitate new industrialization.

Guizhou Tyre Co, Guiyang Yongqing Instruments & Electronics Science & Technology Co, and Guizhou Mechanical and Electrical Group Co are three such enterprises.

Guizhou Tyre Co, the largest manufacturing enterprise in Guiyang, has over 3,000 varieties of tire products, including OTR tires, truck and bus tires, agricultural tires, industrial vehicle tires and special-type tires.

The company will increase investment by 4.5 billion yuan ($706.36 million) to expand its productivity and occupy a higher market share at home and abroad.

Guiyang Yongqing Instruments & Electronics Science & Technology Co, a State-owned hi-tech company, has integrated the big data and manufacturing industries. It has built digital workshops by developing three fully-automatic Surface Mount Technology (SMT) production lines, a manufacturing execution system, a smart warehouse, and intelligent production lines.

When supporting these companies, Guiyang Industrial and Commercial Investment Group has insisted on a problem-oriented approach and the "one enterprise, one solution" problem-solving method to help the companies grow bigger and stronger.

Mao Rong, Party secretary and chairman of the group, said that it will back three to five top enterprises and 15 to 20 high-quality projects during the 14th Five-Year Plan (2021-25) period. The group intends to invest over 5 billion yuan and aims to achieve 6 billion yuan in annual revenue growth and 1 billion yuan in annual profit growth.