The Yinchuan wine-producing area in the Ningxia Hui autonomous region, the core production area of the eastern foothills of Helan Mountains, strives to achieve a total wine output value of more than 50 billion yuan ($7.43 billion) by 2025.
It aims to cultivate more than 20 leading, key brand wineries and enterprises with annual sales of over 500 million yuan, 50 million yuan and 20 million yuan, significantly improving the area's comprehensive competitiveness and economic benefits.
A sprawling vineyard in Ningxia. [Photo/chinadaily.com.cn]
Yinchuan will adhere to the integrated operation of wineries and bases and concentrate resources on them. It will guide the medium and high-end and popular products to improve the management mechanism of land transfer and leasing, accelerating the protection of vineyard rights and the market evaluation trading mechanism.
The wineries and enterprises are encouraged to expand development modes like winery sharing and winery consortium through alliance, restructuring, acquisition, and transferring.
By optimizing the corporate governance structure, injecting state-owned capital, industrial funds and private capital, Yinchuan supports the business entities like State-owned holdings and State-owned shares to develop vigorously. It is determined to build a development pattern of small and medium-sized winery clusters with soaring leading enterprises in five years.
Yinchuan supports wineries and enterprises to expand markets and increase their income. For enterprises whose annual wine sales revenue reaches 20 million, 50 million, and 100 million yuan and above, the government will give financial subsidies at different levels.
Yinchuan strives to achieve a total wine output value of more than 50 billion yuan by 2025. [Photo/chinadaily.com.cn]
Yinchuan will increase investment in key industrial projects and focus on introducing projects such as winery production and management, wine sales and operation, wine cultural tourism development, and wine industry chain extension. The government will give research support to enterprises eligible for local relevant investment promotion policies based on their total investment (more than 100 million yuan), technical competence, marketability, and economic and social benefits.