In the first quarter of this year, the GDP in Ningxia Hui Autonomous Region grew by 6.9 percent year on year and enjoyed a good start, according to a themed conference held in Yinchuan City on April 19.
The overall economic situation in Ningxia maintained steady growing momentum in the first quarter and had a good start, said Li Jianhua, the secretary of CPC Ningxia Hui Autonomous Regional Committee, during the conference. He stressed that project construction and investment expansion need to be enhanced through streamlining approval procedures and broadening financing channels. More investment can be made in coal chemical industry, new energy, textile, IT and modern agriculture, he said.
Services need to be enhanced to release more vitality from enterprises, he noted. It is of great significance for enterprises to improve efficiency, accelerate technological innovation, extend industrial chain and increase added value, he added.
Liu Hui, the chairperson of the government of Ningxia Hui Autonomous Region, said that the economy now in Ningxia is operated within a reasonable range. To ensure a sound development, Ningxia needs to address problems with focus, vitalize financial reserves, adjust the industrial structure, enhance traditional industries, phase out outdated capacities and resettle lay-offs properly, she stressed. We also need to develop new emerging industries and accelerate the development of service industry, she added.
