Zhanjiang on its way to becoming an industrial powerhouse

The number of industrial enterprises above the designated size in Zhanjiang climbed at a record-breaking pace from 767 to 875 between 2016 and 2017, according to the Economic and Information Bureau of Zhanjiang.

An enterprise meets the designated size if its annual main business income exceeds 20 million yuan ($3.13 million) and its fix-asset investments surpass five million yuan.

According to a bureau official, Zhanjiang has not been historically strong in terms of the size of its industries. To improve the situation, the government has rolled out a series of plans to transform traditional industries and bring in heavyweight industrial projects.

Every year, five million yuan is taken from Zhanjiang's municipal budgets to award industrial enterprises above the designated size.

Over the years, the city has attracted more and more hi-tech enterprises to the Zhanjiang Economic and Technological Development Zone and the Fenyong New and High-Tech Development Zone. These companies are mainly engaged in furniture, electronics, and medicine.