Investment: Paradise for businesses
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Workers do their job in Desheng Industrial Park on July 7, 2009.[chinadaily.com.cn]
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To attract investment and to develop its economy, Yinchuan has built the Desheng Industrial Park, which is home to 392 enterprises including famous beer brand Carlsberg and Wangwang Group from Taiwan. The industrial park has also cultivated more than 30 locally well-known brands such as Ningxia Houshengji Food Co and has formed industrial chains from Muslim food and commodities to trade and logistics, new materials and bio-pharmaceuticals . Desheng is looking to be the most promising industrial park in the city.
So far, Desheng industrial park has 80 billion yuan in fixed assets. It achieved a total output value of 4.85 billion in 2008, up 40 percent year-on-year. The industrial output value reached 2.68 billion yuan last year, an increase of 48 percent from a year earlier. In the first half of 2009, the total output value reached 3.4 billion, up 62 percent year-on-year. The industrial output value hit 1.45 billion yuan in the same period, rising 33 percent year-on-year.
The local government also plans to cut taxes and other fees to reduce the burden on local enterprises. With favorable policies, Yinchuan will attract more investors and become a powerhouse in Northwest China in the future, according to Chen.
