Home / News
Jinzhong city in North China's Shanxi province held a project promotion event on June 7 in Beijing to attract investment for its key industrial areas.
The move was to accelerate transformation of private enterprises in Jinzhong and strengthen cooperation between them. The Beijing promotion event and those held earlier in Shanghai and Shenzhen led to 63 signed projects with a total investment of up to 132.8 billion yuan($20billion).
The event focused on promoting projects in eight industries —equipment manufacturing, new materials, modern agriculture, the coal chemical industry, electric power, coke, financial logistics, and culture and tourism.
Jinzhong is located in the central area of Shanxi and is adjacent to Taiyuan, capital of the province. It is a gathering and distribution center for people, goods, technology, capital and information in Shanxi.
Since the establishment of the Jinzhong 108 Corridor—an integration development plan of six main areas of Jinzhong—was approved, the city has come up with policies and guidelines to ensure the growth of eight key industries during the city's 13th Five-Year Plan (2016-20).
These industries are as follows:
Logistics industry
Jinzhong city is 500 kilometers away from Beijing but it takes only two and a half hours to go there by high-speed rail. The distance between Jinzhong's downtown area and Taiyuan Airport and Taiyuan South Railway Station is only 15 kilometers. With five railways, five expressways, and flights to different cities, Jinzhong has great advantages in developing modern logistics.
Modern financial industry
In the 18th century, the Jin merchants of Shanxi province, mainly from Jinzhong city, did business across China and expanded their business to Eurasia. They were the first to open the "Piaohao", an original form of the bank for exchange and transfer of money.
As the pioneer of China's financial development, Jinzhong will deepen financial reform and innovation and make finance a primary industry over the next five years.
Equipment manufacturing industry
Jinzhong has discovered 66 mineral deposits and 17 of them, including coal, iron, aluminum, and magnesium, have proven reserves. Based on rich mineral resources, Jinzhong has formed its pillar industries—coke, machinery, metallurgy, power, and medicine—and a sound industrial production system. The city is home to the biggest textile machine manufacturing base and the strongest hydraulic part manufacturing base in China.
New-energy automobile industry
Jinzhng enjoys a good industrial base and a big automobile consumption market. Its energy resources are also conducive to the development of new energy vehicles. In 2009, the city began to construction a new-energy automobile and equipment manufacturing base, manufacturing new-energy cars, methanol engines, and core parts.
New materials industry
The new materials industry has great potential in Jinzhong city as it develops major products including light guide plates (LGP), macro porous nano-structure silica aerogel, and NdFeB.
Coal chemical industry
Jinzhong has 20 billion tons of proven reserves of coal, eight percent of those in all of Shanxi province. The city is one of Shanxi's important coke industrial bases and its coal chemical projects in Pingyao, Shouyang, and Xiyang are operating effectively.
Modern agricultural industry
Good natural conditions have enabled Jinzhong to develop agriculture. The city's outputs of vegetables, eggs, meat, and dairy products lead the province. It is an agricultural product processing base in Shanxi province and the major agricultural product supplier for Taiyuan. In 2015, Shanxi was named one of 50 national modern agricultural demonstration areas by China's Ministry of Agriculture.
Cultural tourism industry
Jinzhong boasts many historical and cultural scenic spots, such as the Ancient City of Pingyao (a world cultural heritage), Mianshan Mountain in Jiexiu, the Qiao's Grand Courtyard and the Wang's Grand Courtyard, representative compounds of Jin merchants. The tourism industry is expected to generate 100 billion yuan in revenue and offer 300,000 jobs during the 13th Five-Year Plan(2016-20).
