China's township businesses report steady, fast growth

China's township businesses registered a total value added of 3.42 trillion yuan (413.73 billion US dollars) in the first 10 months this year, a year-on-year rise of 12.3 percent, according to the Ministry of Agriculture, which oversees these companies.

The township businesses delivered 1.27 trillion yuan (153.66 billion US dollars) worth of goods for export during the 10-month period, an increase of 20.3 percent from a year earlier, Zhang Bujiang, deputy head of the ministry's Township Enterprise Bureau,said at a recent national meeting on township businesses' development, held in Guiyang, capital of southwest China's Guizhou Province.

They also reported 756.3 billion yuan (91.45 billion US dollars) in net profits in the 10 months, up 13.7 percent, and turned in 297.6 billion yuan (35.98 billion US dollars) in taxes, up 13.9 percent.

Zhang said the major economic indexes of China's township businesses had maintained a double-digit growth on month by month in the 10-month period.

Township enterprises in the Yangtze River Delta in the east, the Bohai Rim in north China and the Pearl River Delta in the south witnessed the most robust development in the 10 months.

Shanghai and Jiangsu and Zhejiang provinces in the Yangtze River Delta, Beijing, Tianjin and Hebei, Liaoning and Shandong provinces in the Bohai Rim, and Guangdong Province in the Pearl River Delta turned out a total value added of 2.12 trillion yuan (256.96 billion US dollars) in the January-October period, up 15.56 percent from a year earlier and 3.27 percentage points higher than the national average.

Township enterprises in these provinces and municipalities delivered 1.1 trillion yuan (133.72 billion US dollars) worth of goods for export during the same period, up 21.59 percent and 1.27percentage points higher than the national average.

Zhang said that township businesses have played a key role in the development of county-level economy.

The National Statistics Bureau has recently selected top 100 counties in terms of their overall economic power, 84 of which are located in the Yangtze River Delta, the Bohai Rim and the Pearl River Delta. Zhejiang Province alone has 30 of the top 100 economically-developed counties.