Guiyang strengthens industrial development engine

Guiyang Industrial Investment Co in Guiyang, capital of Southwest China's Guizhou province, has been promoting the strategy of "strengthening the city through industry" in recent years as well as advancing new-type industrialization to bolster the city's high-quality development.

The office building of Guiyang Industrial Investment Co [Photo/Guiyang Daily]

In 2022, the State-owned company made efforts to strengthen the industrial economy, with the revenue of the industrial sector accounting for more than 90 percent of its total revenue.

Its total assets reached 43 billion yuan (6.3 billion) last year, and it earned a revenue of 14.3 billion yuan and total profits of nearly 350 million yuan. The asset-liability ratio fell to about 50 percent, leading to the strongest business performance and development momentum since it was established.

According to its plan, the company will strive to achieve total assets of more than 45 billion yuan in 2023, an operating income of more than 15 billion yuan, and total profits of about 400 million yuan.

A worker checks tires at the production workshop of Guizhou Tyre Co. [Photo/Guiyang Daily]

By 2025, the total asset of the company should reach more than 50 billion yuan, the operating revenue should reach more than 20 billion yuan, and total profits should reach more than 600 million yuan, according to the company's work plan for implementing the 14th Five-Year Plan (2021-25) for high-quality development.

By 2025, one or two additional companies should be listed, two industrial park projects should be completed and put into operation, and a new development model for manufacturing dominated by tires and aluminum as well as equipment manufacturing should take shape.