Following the “in-depth, practical, honest, detailed and rigorous” working principle, we strove to overcome difficulties with perseverance, conducted reform and innovation, enhanced practical execution, and made the achievements as follows:

First, in the face of increasing downward pressure, we implemented accurately targeted policies and made the economy grow in a stable way. Sticking to problem-oriented solutions and base-line thinking modes, we proactively boosted the economy to improve steadily and continuously. At the beginning of 2014, we allocated 5.8-billion-yuan funds to support urban development in Ningxia. A series of policies, including 17 items to maintain stable industrial growth, were timely issued at the quarterly situation analysis conference. The industries of coal, electricity and aluminum were guided to conduct cooperation and mutual guarantee and establish one-to-one support connection. The policies help lower the cost on businesses by 1.44 billion yuan. We accelerated the processes of project review and approval, budgetary fund allocation and key projects initiation. The Ningxia Zhongyin Cashmere Co., Ltd. weaved 5 million cashmeresweaters. The 600,000-ton olefin of the Ningxia Baofeng Energy Group Co., Ltd.was put into operation. The Zhongwei and Zhongning Yellow River Bridges were open to traffic. We accelerated the construction of the 4-million-ton coal-to-oil project of the Shenhua Ningxia Coal Industry Group Co., Ltd., the Yuanzhou-Wangwa Railway and the expansion of the Yingchuan Hedong International Airport. We have also won State endorsement for construction of the electricity transmission project from Ningdong to Shaoxing in Zhejiang Province in eastern China, the second line of the railway from Gantang in Ningxia to Wuwei in Gansu Province and the high-speed railway from Yinchuan to Xi’an in Shaanxi Province got approval. We worked hard to win State approval for the treatment of the Heishanxia (in Ningxia)-Jungar Banner (in Inner Mongolia) section and the Heishanxia section of the Yellow River as key national water conservancy projects. A total of 16 financial institutions were newly established and 68 businesses were listed and realized financing. We floated various bonds, such as government bonds and corporatebonds, totaling 19.9 billion yuan. We procured a total of 22.25 billion yuan loans for shanty town renovation. The government, banks and enterprises made a unanimous effort to reduce financial risks in some areas.

Second, in face of acute structural imbalance, we adopted readjustment measures to realize industrial optimization and upgrading. We laid more emphasis on the quality and efficiency of economic development by implementing the four structural readjustment schemes in the industrial, agricltural, service sectors. In the agricultural sector, we issued supportive policies and invested more funds to advance modern agricultural development, especially in grape, Chinese wolfberry, grassland feed-animals, and melons and vegetables. The wine grape and Chinese wolfberry growing areas reached 34,000 hectares and 56,667 hectares respectively, and a total of 72 wineries were put into operation.Some 122 modern agricultural demonstration bases and 408 standardized livestock and poultry farms were under construction. We built vegetable bases totaling 6,933 hectares and the agricultural production area totaled 61,600 hectares. In the industrial sector, we boosted burgeoning industries and enhanced the traditional ones at the same time. We stepped up the construction of ecological textile demonstration park.Ningdong Town has become the largest coal-based olefins production base in China, increasing the capacity of advanced coal chemical industry by 27.7%. The newly added wind and photovoltaic powers reached 1.2 million kilowatts and 600,000 kilowatts respectively. The installednew energy generating capacity makes up 27.8% of the installed generating capacity installed in the year. We invested 35.8 billion yuan on technological modification, and eliminated outdated capacities like electrolytic aluminum, calcium carbide and cement totaling 2.8 million tons, and lowered the energy consumption per 10,000 yuan of GDP by 4.5%. In services industry, we optimized the market mechanism and accelerated logistics development. We launched the intelligence tourism program which has received 16.75 million tourists. The sales of commercial residential building rose by 7.7%. We released new policies to regulate old-age service development, including improving subsidies for private old-age care providers. A total 1,778 beds were added for senior citizens. The Internet Giants like Alibaba and Amazon established branches in Ningxia and the West Cloud Base started construction. The city of Yinchuan will be built into an Information Consumption Pilot City with financial support. The online Ningxia Specialty Shop at Taobao.com was launched officially. The online trade volume through the platform of International Business Incubator (IBI) exceeded 100 billion yuan.

Third, facing arduous tasks of deepening the reform in an all-round way, we laid more emphasis on resolving key problems by stepping up scientific development. Carrying out the Decisions on Deepening Reform and Promoting Economic and Social Development in Ningxia, we accomplished 58 reform items and advanced 141 others. Reforms were conducted on government institutions in regional, municipal and county levels. The bureaus of industrial and commercial administration, quality supervision and drug surveillance joined hands tosupervise work in areas where they are located. The Land Reclamation Bureau was changed into an enterprise in market operation. An all-round government budgetary system was established and the coal resource tax was charged on prices. The pilot project to replace business tax with value-added tax (VAT) benefited 13,000 businesses, reducing the taxburden by some 380 million yuan. We worked hard to make regional government-initiated businesses to divorce from their former owners, and, on this basis, organized the Ningxia State-owned Capital Operation Group. We worked hard to speed up the development of capital market, and the Guangxia (Yinchuan) Industry Co.,Ltd.restored transaction.We also launched financial pilot reform in rural areas. The reform on industrial and commercial registration was deepened and the newly registered enterprises increased by 52%. We pushed forward paid exploitation and utilization of oil and gas resources and enhanced the price adjustment system of water, electricity and gas. We stepped up reform on rural land property right, with 54,267 hectares registered and 18,333hectares transacted.