Nanming makes efforts to help enterprise development in 2020

Since the beginning of last year, Nanming district of Guiyang, the capital of Southwest China's Guizhou province, has coordinated pandemic prevention and control and economic and social development, focused on helping enterprises solve problems, continuously optimized the business environment, and promoted economic growth.

Nanming district set up a government-bank-enterprise cooperation platform to help solve the capital turnover problems faced by many micro, small and medium-sized enterprises and coordinate financial institutions to increase credit supply to the relevant companies. According to incomplete statistics, last year, financial institutions in the district issued about 12.53 billion yuan ($1.93 billion) of loans to enterprises.

Based on helping enterprises obtain credit support, the district formulated corresponding support measures for six significant industries and made detailed provisions on various industries' subsidies and awards.

Last year, the district granted 124.43 million yuan in subsidies covering interest discounts, employment, water and electricity, rent, sci-tech development, investment, operations and more, benefiting 492 enterprises.

The district has also implemented various preferential tax policies. In 2020, a total of 880 million yuan of tax and fee reductions were provided to enterprises.

Two hundred and seventeen new industrial projects were introduced to the district last year, with 10.98 billion yuan of paid-in investment, and all of them are now under construction. Also, 26,801 new market entities were added in the district; as of Dec 31, 2020, the district's total number of market entities reached 132,892.

From January to October in 2020, the added value of the district's large-scale industries with revenue above 20 million yuan increased by 10.3 percent year-on-year. The total retail sales of social consumer goods in Nanming reached 22.26 billion yuan, an increase of 10.7 percent year-on-year, while the district's tourism revenue reached 48.99 billion yuan.

In the first three quarters, the district's GDP reached 59.54 billion yuan, an increase of 2.3 percent over the same period in 2019, ranking first in all urban districts of the province.