Ningxia State-owned Enterprises Deliver Broad-based Growth in First Half of 2026

According to Chinanews, state-owned enterprises supervised by Ningxia’s state asset regulator achieved steady and high-quality development across core economic indicators in the first half of 2026, with all major operational metrics registering year-on-year growth.

The supervised enterprises recorded operating revenue of 67.987 billion yuan, total profits of 5.279 billion yuan, paid taxes of 10.621 billion yuan and industrial added value of 36.798 billion yuan in the first six months, rising by 1.9 per cent, 8.6 per cent, 22.4 per cent and 4.5 per cent respectively compared with the same period last year. By the end of June, total assets of the enterprises stood at 737.643 billion yuan and net assets reached 352.401 billion yuan, representing year-on-year increases of 3.3 per cent and 2.1 per cent.

Key provincial state-owned firms have delivered outstanding operational momentum, driving regional industrial economic growth. Ningxia State-owned Capital Operation Group, Ningxia Tourism Investment Group and Ningxia Agricultural Reclamation Group posted year-on-year revenue growth of 14.3 per cent, 61.9 per cent and 27.9 per cent individually. Multiple local enterprises achieved robust profit expansion, with Ningxia Transportation Construction Investment Group, Ningxia Agricultural Reclamation Group, Ningxia Tourism Investment Group and Digital Ningxia Construction and Operation Company recording profit growth of 38.9 per cent, 24.8 per cent, 15.5 per cent and 17.5 per cent respectively.

Fixed-asset investment by Ningxia’s supervised state-owned enterprises totalled 18.33 billion yuan in the first half of the year, completing 41.4 per cent of the annual investment plan. Investment from enterprises directly managed by Ningxia State-owned Assets Supervision and Administration Commission reached 12.24 billion yuan, accounting for 66.7 per cent of the overall investment volume. A batch of key infrastructure and industrial projects have achieved phased construction milestones.

Major project construction has maintained steady progress. Main works including subgrade construction of the Yinchuan-Baoji Railway branch project undertaken by local state-owned enterprises have been fully completed, with long-track laying operations launched for the Inner Mongolia section. The special railway line for Zhongwei Thermal Power Station officially opened to traffic on 30 June, upgrading the logistics capacity of the coal transportation channel connecting Xinjiang and Ningxia. The main structural construction of the urban renewal project for scattered villages in the southern Xingqing District of Yinchuan has been fully capped. Preparatory work for the Zhongwei Desert Cultural and Tourism Complex project has been completed, with official construction scheduled to start in July.

Ningxia’s state asset regulatory authority has carried out benchmarking improvement campaigns against advanced provincial counterparts including Anhui, Hubei and Zhejiang, and organised multiple industrial supply and demand docking events together with local industry and commerce authorities to strengthen industrial linkage and resource coordination. Industrial restructuring and operational optimisation have achieved tangible results. Risk resolution work for Northwest Bearing moves forward in an orderly manner, while Baota Industry continues to expand its layout in new energy power generation and energy storage sectors, securing phased progress in industrial transformation and upgrading.

Ningxia’s state-owned enterprise sector will further deepen state-owned asset and enterprise reform and optimise the layout of state-owned capital in the second half of 2026. Targeted operational arrangements will be implemented to strengthen regular economic operation analysis and intensify efforts to turn loss-making enterprises to profitability. Continuous optimisation of operational mechanisms and industrial layout will underpin the full completion of annual development targets and consolidate the supporting role of state-owned capital in regional high-quality economic development.