Quzhou performs solidly in industrial economy in Q1

A meeting was held in Quzhou on May 9 to analyze the city's industrial economy performance in the first quarter of this year and make plans for the next step.

Since the COVID-19 outbreak, Quzhou's industrial enterprises have achieved positive results in work and production resumption under the guidelines and supporting measures of the municipal government.

In order to alleviate the production and operation pressure on enterprises, the municipal government issued a series of supporting measures and policies. In the first quarter, it helped enterprises save costs of 2.17 billion yuan ($306.8 million) and offered supporting funds of 122 million yuan.

To sum up, the industrial economy performed better than expected in the first quarter. Despite the effect of the epidemic, the total industrial output of industries above designated size in the city was 36.34 billion yuan, a year-on-year decrease of only 10.5 percent, and the industrial added value of industries above designated size was 82.8 million yuan, a year-on-year decrease of eight percent, with the added value ranking fourth in Zhejiang province. The industrial electricity consumption was 2.77 billion kilowatt-hour, a year-on-year decrease of just 6.3 percent.

The meeting urged relevant departments to scientifically judge the variables, make every effort to stabilize stock values, strive to increase increments, and resolutely overcome any losses.

In the second quarter, the city intends to increase the industrial added value of industries above designated size by 10.7 percent and industrial investment by 5.4 percent.

The meeting also determined to focus on key technological upgrading projects in the second quarter, and to try to advance settlement of projects in the two scientific and technological innovation platforms of the University of Electronic Science and Technology of China and Zhejiang University.