The Lanzhou Beef Noodle Industry Supply Chain Investment Promotion and Project Signing Ceremony is held in Lanzhou, Gansu province, July 8, 2024. [Photo provided to gogansu.com]

On July 8, the Lanzhou Beef Noodle Industry Supply Chain Investment Promotion and Project Signing Ceremony was held in Lanzhou, Gansu province, NW China. Government departments, industry leaders, and experts gathered to discuss the development of the Lanzhou beef noodle industry.

A total of 54 projects were signed on site, with a total investment of 5.7 billion yuan ($849 million), covering projects in the beef noodle industry supply chain such as expanding overseas markets, pre-packaged sales, and designated beef and mutton slaughter.

It is reported that Lanzhou Financial Holdings Limited Company will establish a 1 billion yuan ($143 million) industry fund in collaboration with China Capital Investment Group and China Merchants Group. Once established, the fund will include high-quality Lanzhou beef noodle industry projects as investment targets, providing comprehensive financing and value-added services to excellent enterprises in the Lanzhou beef noodle industry through equity investments, investment-loan linkage, resource integration, and other means.

Lanzhou is the birthplace of beef noodles, and Lanzhou beef noodles are renowned as the "number one noodles of China." Currently, there are 1,281 beef noodle restaurants in Lanzhou, with annual sales exceeding 3.5 billion yuan ($518 million). Local beef noodle brand enterprises have opened over 4,300 stores outside the province, with annual sales exceeding 13 billion yuan ($1830 million). They have also expanded to over 600 stores in more than 60 countries and regions. Additionally, there are 26 pre-packaged noodle companies. The industry continues to grow in scale, improving its operating environment, expanding its brand influence, strengthening its workforce, and accelerating international expansion. Lanzhou beef noodles have become a highly reputable symbol of Lanzhou.