PR92884

YINCHUAN, China, Nov. 8, 2021 /Xinhua=KYODO JBN/--

According to the official statistics released by Yinchuan Municipal Bureau of

Commerce in October, 2021, the total retail sales of consumption goods in

Yinchuan reached 58.652 billion yuan (9.08 billion USD) during the first three

quarters of 2021, accounting for nearly 58% of the total amount of the whole

region.

The total volume of import and export reached 6.704 billion yuan ($1.35647

billion), accounting for 55.94% of the total volume of the whole region. 16

foreign-invested enterprises were newly established, and the foreign capital

which are fully utilized reached 112.93 million US dollars. The FDI was 8.63

million US dollars and the cross-border e-commerce realized a transaction

volume worth of 647 million yuan ($100.16 million ).

The total amount of logistics reached 320 billion yuan ($49.728 billion) and

the added value of logistics-related industries reached 14.4 billion yuan

($2.229 billion).

In 2020, an unexpected epidemic disrupted the rhythm of cities in China. A

series of commercial sectors such as catering industry, entertainment industry

and trade sector were hit hardly by the unprecedented losses and then the

stagnation of commercial activities which lasted for months emerged.

"The mature and efficient governance are characterized by those government

officials who are good at exploring opportunities even faced with crisis." The

commercial enterprises and people in Yinchuan involved in this crisis overcame

hardships and survived from the global pandemic. The business activities in

Yinchuan restart to thrive with the bustling and hustling streets being crowded

with people again. This quotation mentioned above is an epitome of the fruitful

results and experiences the city of Yinchuan had gained during the past year.

With the backdrop of COVID-19 global epidemic and the robust recovery of

Yinchuan's economy, how did Yinchuan Municipal Bureau of Commerce which is

responsible for the city's commercial development stimulate the economic growth

of Ningxia?

An government official from Yinchuan Municipal Bureau of Commerce who is

responsible for retailing business is quoted as saying, "During the epidemic

period, we coordinated and realized the normal operation of 3 large wholesale

markets related to agricultural products, 218 major chain supermarkets and

vegetable direct-sale stores in community. Furthermore, we set a 'green

passage' for transportation vehicles, and effectively ensured the

transportation and distribution of epidemic protection materials, daily

necessities and other materials."

At the same time, the city of Yinchuan focused on building the demonstration

areas of night economy and attached great importance to cultivating commercial

blocks with local characteristics. Yinchuan pushed forward the upgrade and

renovation of traditional business circle and speeded up the development of

first store economy, such as Yinchuan Metropolis Plaza, Huaiyuan night market

and Fenglinwan Town.

Forty well-known enterprises participated in more than 10 exhibitions and

conferences, inculding the 2020 Ningxia Brand Festival and the 28th Guangzhou

Expo. The local government assisted the 10 enterprises headquatered in Yinchuan

in the field of wine production, fruit and vegetable production to set up

export booth and channels in more than 20 cities including Beijing.

According to the information released on the official website of Yinchuan

Municipal Bureau of Commerce, five major functional zones have already been

built in Yinchuan Free Trade Zone. A cross-border e-commerce public supervision

center has been established in Yinchuan Highway and Railway Logistics Park. The

Cross-Border E-Commerce Industrial Park covering an area of 32,000 square

meters has been set, with 169 cross-border e-commerce enterprises signing up to

set their branches in this park. In Yuehai Bay Central Business District (The

CBD of Yinchuan), with 22 enterprises set their branches there. Zhongguancun

Innovation and Entrepreneurship Center has set up cross-border e-commerce

business in the United States, Europe, Japan and other developed regions with

the help of its own brand matrix of e-commerce and intelligence big data

engine. The Cross-Border E-Commerce Research Institute and Yinchuan FTZ

E-Commerce College has been established in Yinchuan as training base to inject

new impetus to the economic development of Yinchuan.  

These measures and policies adopted by the local government not only revitalize

the city of Yinchuan, but also facilitate the economic recovery.

The directer of Yinchuan Municipal Bureau of Commerce, Mr. Liu is quoted as

saying, "The year of 2021 is the first year of the 14th five-year-plan, the

100th anniversary of the founding of the Communist Party of China and the first

year of the new journey of building a modern socialist country in an all-round

way. Yinchuan Municipal Bureau of Commerce will unswervingly uphold the

development philosophy of making Yinchuan the center city for consumption in

this region. It will implement the national policy of "internal and external

double-circulation", further tapping the potential of economic growth. It will

smooth the internal circulation of economic growth through promoting

consumption and inject impetus to external circulation by further opening up."

Source: Yinchuan Municipal Bureau of Commerce

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   Caption: Yinchuan Free Trade Zone