In the face of the continued downward pressure on economic operation, Yichang municipal state-owned enterprises maintained a good momentum of economic operation by stablizing the growth, making structural adjustments and promoting investment. In the first quarter of 2016, the business income has reached 21.455 billion yuan, an increase of 3.4% over last year. And the profits have amounted to 388million yuan, a growth of 59.7% compared with the same months last year. Fixed-asset investment has reached 6.04 billion yuan and the gross industrial output gets to 17.085 billion yuan with an added value of 5.95 billion yuan. Both of the items have exceeded those of last year. And the total assets of the enterprises have risen to 135.033billion yuan, a year-on-year growth of 12.42 percent.

To realize the “two leads, two ranks” goals (Yichang leads Hubei Province in achieving the goal of eliminating poverty and in building a moderately prosperous society in all respects; meanwhile, the city’s comprehensive strength ranks among the top 50 cities in China and leads those cities of the same  size in the central and western parts of China) proposed by Yichang Municipal Party Committee and Yichang Municipal Government, the State-owned Assents Supervision and Administration Commission of Yichang Municipal Government has made achievement by adopting three measures during the first quarter.

The first measure is to ensure steady growth of the main industries. To be specific, Hubei Yihua Chemical Industry Co. Ltd. has slowed down its investment in other places in the new normal state and depends on its three main industries (coal industry, salt industry and phosphorus chemistry), expanding to such related industries as pesticide, seed, mining, real estate and chemical machine. The adjustment has relieved the company of the pressure from both the market and environmental protection. And its sales income has reached 20,102 million yuan, an increase of 2.37% over the previous year, with the total profits being 167 million yuan. Yichang Angel Yeast Group, centering on the goal of high quality, larger scale, better efficiency and more weight on operation, has made a good start in its production and operation in the first quarter of the year. And the growth of its revenue and profits has reached a new height.

The second measure is to make structural adjustment and transformation. Hubei Xiazhou Group has actively integrated its tourism elements and various industries so that a big tourism development layout has been established with one core and five supporing points by way of the three key scenic spots, namely, Qingjiang Ancient Town, Tianlongwan Water Town, Shizhuguan Taoist Temple and travel agencies. And its overall operation is in a good condition and it occupies a leading position in Hubei Province. Taohualing Hotel has succeeded not only in completing the task of official hospitality for Yichang Municipal Party Committee and Yichang Municipal Government, but also in reaping a double bumper harvests in both social and economic benefits by improving its inner management and expanding market.

The third measure is to further expand fund-rising. The four major state-owned investment holding groups actively explored financing models such as PPP, PPN, online finance, etc. so that they financed 10,622 million yuan and attracted an investment of 5,403 million yuan in the first quarter of 2016. Among them, Yichang Urban Construction Investment Holding Group completed the inspection and acceptance of 5 construction projects. And their construction of Olympic Sports Center, Municipal Planning Exhibition Hall, museum, affordable housing based on shanty urban areas, natural resources and transportation hub in Yichang is going ahead as planned. Yichang State-owned Investment Group, following its municipal industrial investment of 200 billion yuan by establishing a 10-billion-yuan Three Gorges venture capital guidance funds, raised one billion yuan by issuing PPN in March so as to construct a series of municipal key projects that will become the landmarks for the urban development.  (Reported by Shidan)