Gansu Provincial‑owned Enterprises Log Double‑digit Growth Driven by Innovation and Industrial Upgrading

Provincial‑owned enterprises in Gansu are prioritising high‑quality development, advancing growth momentum, industrial transformation, technological innovation and operational efficiency. Key economic indicators maintain double‑digit expansion, cementing their role as a stabilising force and key driver for the province’s economy.

In the first half of the year, these provincial‑owned enterprises registered a total industrial output value of 392.451 billion yuan, representing a year‑on‑year rise of 22.31 per cent. Core metrics including total profit, tax contributions and completed investment all recorded double‑digit increases, hitting interim performance targets for the six‑month period. Jinchuan Group, Baiyin Group and Gansu Energy and Chemical Group all posted output growth exceeding 20 per cent.

Technological innovation acts as a core catalyst for industrial upgrading. Industrial provincial‑owned enterprises in Gansu raised their research and development expenditure by 14.31 per cent year‑on‑year across the first six months, with R&D intensity reaching 3.18 per cent. Baiyin Group delivered an R&D spending increase of more than 30 per cent. Once commissioned, its special‑purpose silver powder facility for photovoltaic applications will enable large‑scale local production of high‑precision photovoltaic silver powder.

Investment in strategic emerging industries by Gansu’s provincial‑owned enterprises climbed 11.02 per cent year‑on‑year in the first half. This has driven a 19.24 per‑cent rise in operating revenue from strategic emerging sectors. Turnover generated by new‑technology, new‑industry and new‑business‑form activities grew by 20.21 per cent, as technological and industrial innovation deepen their integration. Jiuquan Iron and Steel Group presses ahead with phased renewal of production lines. New wide‑plate and hot‑rolling mill projects have gone into full operation, lifting the proportion of high‑value‑added products and delivering the best‑ever half‑year operating results for the business.

During the same period, provincial‑owned enterprises poured 9.622 billion yuan into projects for intelligent, green and integrated industrial transformation, alongside 4.186 billion yuan of investment for new‑technology‑driven initiatives, with 2 489 sets of equipment replaced across facilities. Gansu Electric Investment Group explores new pathways integrating computing infrastructure and power supply. Output value for new‑material and battery‑material segments at Jinchuan Group increased by 46 per cent and 61 per cent respectively. Orders for new‑energy equipment covering nuclear‑power, hydrogen, photovoltaic and energy‑storage solutions surged by 70 per cent at Lanzhou LS Heavy Industry Group. The Shiguangli cultural‑tourism complex operated by Gansu Culture and Tourism Group has opened to visitors, illustrating diversified industrial shifts underway across provincial‑owned assets.

Major‑project construction gathers pace. The S35 Jing‑Li Expressway, led by Gansu Public Aviation Tourism Investment Group, is under full construction along its whole route, with accumulated completed output standing at 3.7 billion yuan. Upgrading work at Zhangye Qicai Danxia Scenic Area’s night‑tour offering has been finished, with combined day‑and‑night operational models unlocking greater consumption potential within cultural tourism markets.

Total investment completed by Gansu provincial‑owned enterprises rose by 14.22 per cent year‑on‑year for the first half. Forty‑eight major provincial‑level projects have fulfilled 52.63 per cent of their annual investment plans. Six key industrial projects including phase‑one of Jinchuan Group’s 200 000‑tonne lithium‑iron‑phosphate cathode‑material facility and Jiuquan Iron and Steel Group’s steel‑product‑structure adjustment scheme have been completed and brought online. These newly‑commissioned assets are expected to add 7 billion yuan of annual output value. Provincial‑owned enterprises are delivering tangible outcomes that underpin high‑quality economic development across Gansu province.