Xi Jinping Advocates for Resource-Based Economy Transformation in Shanxi Tour
Xi Jinping Advocates for Resource-Based Economy Transformation in Shanxi Tour
President Xi Jinping recently visited Shanxi Province in North China, urging the region to embrace transformation and enhance its resource-based economy. This initiative aims not just at local development but also contributes to the broader narrative of advancing Chinese modernization.
During his inspection tour, which took place over two days, Xi highlighted the necessity for Shanxi to evolve and adapt its industrial frameworks. He visited the Yangquan Valve Co., Ltd., a key player in industrial valve manufacturing, to assess how well the province has performed in terms of industrial reform and innovation in recent years. The company, established in 1924, has been pivotal in producing high-tech valve products that have captivated both domestic and international markets.
Xi's remarks underscored the significance of traditional manufacturing as a backbone of the real economy. He urged local industries to align their outputs with market demands while enhancing technological innovation to rejuvenate veteran sectors. This transition is critical as national industrial development increasingly hinges on cutting-edge technology and contemporary manufacturing practices.
During his discussions, Xi pointed out that the construction of a national pilot zone for comprehensive reform represents a strategic directive from the Central Committee of the Communist Party of China. He called for the province to not only secure coal supplies for power generation—the primary resource in Shanxi—but also to propel the transformation from basic extraction to high-value product creation. This shift is essential for advancing the province's future development while ensuring the sustainable use of its resources.
Xi's focus extended to establishing a business-friendly environment that can inspire innovation and stimulate proactive enterprise engagement. Experts have lauded his visit, interpreting it as a significant motive for energizing the local manufacturing sector. According to Hu Qimu, deputy secretary-general of Forum 50 for Digital-Real Economies Integration, Shanxi’s advancements could set a benchmark for similar resource-rich areas in China.
The importance of marrying traditional industries with innovative practices was echoed in Xi's statements. His remarks reflect a balanced development strategy of conserving past industrial legacies while fostering emerging sectors. This dual approach will play a pivotal role in meeting the aspirations laid out in China's 15th Five-Year Plan.
The Yangquan Valve Co., Ltd. serves as a case study of successful industrial transformation. As a