Yinchuan, the capital of Ningxia, experienced significant growth in village collective economic income in 2024, reaching 550 million yuan ($75.63 million).
Chongxing village in Lingwu, a county-level city in Yinchuan, reported an impressive annual income of 4.04 million yuan last year: nearly 33 times the 120,000 yuan earned in 2022.
The village achieved this remarkable growth by developing specialty industries, such as flaxseed oil processing, optimizing production processes, expanding sales channels, and enhancing product value, thus revitalizing its traditional industries.
"This year, we expanded the cool hardy vegetable planting area to 350 mu (23.33 hectares) and used our existing industry advantages to introduce related projects, thereby broadening our income channels," said a representative from Hanqu village in Lingwu.
In 2024, Hanqu village established a cattle breeding farm, which increased its collective economic income to over 10 million yuan.
Yinchuan has adhered to local conditions and innovated development models to drive rural economic growth. In Minning town, Yongning county, villages pooled funds to purchase a local photovoltaic power generation company, which increased the annual income for each village collective by 3 million yuan.
As village collectives' financial resources grow, villagers reap development benefits. Before the Chinese New Year, Xianjin village distributed rice, flour, and oil as New Year gifts to 175 households in need, provided emergency medical kits to 100 disadvantaged families, and offered a 60 yuan medical insurance subsidy to households with members over 60 years old.
For three years, Hanqu village has also rewarded students admitted to universities, ensuring that the benefits of rural development reach the entire community.