Shanxi province's non-governmental investment in fixed assets grew 20.5 percent in 2014, compared with the previous year's figure. The rate is higher than the national figure, 18 percent, according to statistics from the Shanxi Bureau of Statistics.
2014 was the fourth year that the increment rate of non-government investment in fixed assets surpassed 20 percent since 2011, a positive message for the province's economy in the future.
The statistics showed that the growth rate of non-governmental investment in fixed assets was 46 percent in 2011, 33.6 percent in 2012, 35.8 percent in the following year and then 20.5 percent in 2014, with nearly 700 billion yuan ($111.93 billion) in completed investment.
The province began to integrate coal resources in 2008, and has released more than 1 trillion yuan of non-governmental capital. This giant amount of capital has attracted attention at home and abroad. In order to activate the capital, Shanxi encourages non-government capital to invest in real economy sectors like coal machinery, the auto industry, heavy machinery and railway equipment.
A researcher from the Shanxi Academy of Social Science commented that currently non-governmental investment is a major force in Shanxi's economic transformation.
The secondary industry, like mining and construction, is no longer the main destination of non-governmental investment. The investment structure has been optimized and more capital is headed to the primary and tertiary industries. In 2014, the growth rate of non-government capital to the primary industry exceeded 50 percent, while the figure of the tertiary industry was nearly 30 percent.
Edited by Michael Thai
