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Shanxi non-coal industry into the main driver of industrial growth Jan 25, 2018

On the last day of 2017, a key benchmarking project for comprehensive transformation and transformation of Shanxi Province and the successful trial-run of the system-wide integration and utilization of Lu'an high-sulfur coal for the comprehensive utilization of oil, electricity and electric products formally produced qualified coal-based high-end synthetic oil. This marks the "tons" of Shanxi coal sold, to achieve the "rise" to sell oil, on "grams" to sell chemicals. The project will produce 1.8 million tons of oil products and chemicals every year, including high-end waxes, non-aromatic solvents, special fuels and high-grade lubricants, turning inferior coal into treasure and extending the life cycle of coal mining and utilization. This is a microcosm of Shanxi's economic restructuring.

The transformation and development have injected sustained growth momentum into Shanxi's economy. Economic growth has come out of a difficult period from the first quarter of 2017 to a reasonable range in the first half of the year, surpassed the national average in the first three quarters and the economic structure has undergone positive changes.

Non-coal industry has become the driving force for industrial growth. In 2017, Shanxi completed the task of closing 18 coal mines and exiting 17.4 million tons of production capacity, again "overweighting", shutting down 9 coal mines and withdrawing 5.25 million tons of production capacity. In the first three quarters, service sector contributed 57.2% of GDP growth, up from 16.7 percentage points of the second industry. Among the above-scale industries in the province, the non-coal industry contributed 64.8% of the industrial growth. In the first 11 months, the non-coal industrial electricity increased by 11.7% compared with that of the same period of last year, while that of non-energy industrial electricity increased by 13.3%, all exceeding the average growth of the province's industrial electricity consumption.

Emerging industries have been expanding. The establishment of strategic emerging industry investment funds, private enterprises, innovation and transformation investment funds, a number of emerging industries to accelerate the project, the industry continues to expand. In the first 11 months of 2017, industrial strategic emerging industries increased by 10.6% over the same period of last year, of which the output of new energy vehicles increased by 3.9 times.

Venture innovation inject vitality. In the first three quarters of 2017, the number of newly registered market entities in Shanxi Province was 298,000, up 20.8% over the same period of the previous year, and a total of 936 high-tech enterprises were identified. Add 30 provincial-level innovation platform and 71 business incubator platform.

Investment structure to further optimize. Optimize the business environment, carry out nine special operations such as speeding up the investment promotion project and the difficult implementation of the contract execution. In the first 11 months of 2017, the non-coal industry has made a significant investment pull. The investment in industrial technology reform accelerated, taking up 14.3% of the total. The investment in hi-tech industry reached 21.96 billion yuan, up 16.9%, of which investment in high-tech manufacturing increased by 17.3% and investment in high-tech services increased by 16.8%.