Guangxi private sector economy stabilizes in H1

With its COVID-19 epidemic prevention and control measures achieving positive results that have led to enterprises accelerating the resumption of their work and production, Guangxi Zhuang autonomous region's private sector economy has been showing positive trends, with the scale of economic entities growing steadily and the sales of commercial enterprises rebounding.

In the first half of the year, the industrial added value of Guangxi's private sector enterprises above designated size dropped by 3.6 percent year-on-year, with the rate of decline narrowing by 2.5 percent from the first quarter. The proportion of industrial added value above designated size in the region increased from 46 percent in the first quarter to 47.5 percent.

Private investment fell by 2 percent year-on-year, and the rate of decline narrowed by 13.6 percent from the first quarter. The proportion of fixed asset investment in the region rose from 47.3 percent in the first quarter to 49.5 percent.

The import and export volume of private enterprises in Guangxi decreased by 2.5 percent year-on-year, among which imports increased by 20.4 percent year-on-year and exports decreased by 10.6 percent year-on-year. The number of private enterprises in the region increased by 12.13 percent year-on-year, while the number of individual industrial and commercial households increased by 17.1 percent year-on-year.

In the second half of the year, Guangxi will continue to promote the quality and efficiency of private investment through a variety of measures.

The region will accelerate the construction of projects, as well as strengthen the introduction of private enterprises, especially those from the Guangdong-Hong Kong-Macao Greater Bay Area, the Yangtze River Delta, and the Beijing-Tianjin-Hebei region. It will also increase support for emerging areas like live streaming e-commerce, as well as build a pragmatic and efficient work system to serve private investment.