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China’s impoverished counties see booming sales growth in 2016-2020

Abstract : Businesses in China's impoverished counties posted double-digit growth in their average annual sales revenue during the 13th Five-Year Plan period (2016-2020) as their production and operations gained steam, the State Taxation Administration said Thursday.

BEIJING, Feb. 25 (Xinhua) — Businesses in China’s impoverished counties posted double-digit growth in their average annual sales revenue during the 13th Five-Year Plan period (2016-2020) as their production and operations gained steam, the State Taxation Administration said Thursday.

The figure came in at 14.6 percent for businesses in the country’s 832 impoverished counties, which have all since been removed from the poverty list.

Impoverished counties in the country’s northeastern region enjoyed the highest annual growth rates in their sales revenue over the past two years, coming in at 13.6 percent in 2019 and 29.7 percent in 2020, data from the administration showed.

The average annual sales growth rates in east, central and west China were 18.7 percent, 15.6 percent and 13 percent, respectively, over the past five years.

The industrial layout in the nation’s impoverished counties has been further optimized. Businesses related to communications electronics manufacturing and software and information technology services have grown faster, with average annual growth rates of 45.4 percent and 35.1 percent, respectively, over the same period.

In 2020, 683 impoverished counties saw their sales revenue register positive growth, accounting for 82.1 percent of the total, showed the data. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s impoverished counties see booming sales growth in 2016-2020

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