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In recent days, Henan TV and Henan Daily have made a series of report on Xuchang’s social and economic achievements. Much attention has been paid to its economic progress.
A strong economic strength. During the first half year of 2018, Xuchang’s GDP has hit 130.59 billion yuan, a year-on-year increase of 8.0%. Its general public revenue has hit 9.33 billion yuan, a year-on-year increase of 13.4%, ranking the 5th in Henan Province.
Thriving private economy. There are 4 local companies among the name list of 2017 China’s top 500 Private Enterprises. The private economy takes in 85% of employees, and its export and import volume accounts for 89% of the total. Rebecca, the leading player in the global wig-making industry; Senyuan Group, a giant in power equipment manufacturing; Xianyi, a leading player in providing internet platform for cold chain logistics; Huanghe Group, the biggest man-made diamond manufacturing base in China; Yuandong, a giant in China’s drive shaft industry.
Great Innovation. There are over 100 high-tech enterprises, 850 innovative-oriented small and medium enterprises. Number of patent application and patent licensing ranks top 3 in 9 consecutive years in Henan Province.
Frequent Sino-German economic cooperation and technical exchanges. More than 100 local companies have been to Germany for economic cooperation and technical progress. In March 2018, Sino-German (Xuchang) SMEs Cooperation Zone has been established with the approval of Ministry of Industry and Information Technology, the eighth one of the same kind in China.