JINCHANG, China, Dec. 21, 2023 /PRNewswire/ -- On the morning of December 16, 2023, the press conference for the release of the Report on Innovation and Development Index of Industry Chain of China Nickel Capital (Jinchang) was held in Lanzhou, Gansu Province by Jinchang Municipal People's Government.

The index report notes that the city of Jinchang has constantly developed a modern industrial system with optimized structure, established functions, high-added value and strong competitiveness, laid a solid foundation for sustainable economic growth in a long run, and gained strong development momentum. Driven by the implementation of an optimized industrial structure and the growth momentum unleashed by high-added-value sectors, the local economy now has more "gold content" and "green content".

The result of the index operation shows that from 2020 to 2022, the index grew from 100 points to 172.43 points with a compound annual growth rate (CAGR) of 31.31%.

Located in the central section of the Hexi Corridor, Jinchang thrives on mining and has the largest nickel and cobalt production base in China, known as China's Nickel Capital. The local Jinchuan Group is China's largest and world-leading nickel and cobalt production base and platinum group metal refining center, which is Gansu's only Fortune Global 500 enterprise.

In recent years, to spur the endogenous dynamics for urban development and enhance the sustainability of economic growth, Jinchang has leveraged its resource, geographical and industrial advantages to transform and upgrade traditional industries, and incubate emerging industries to stride towards a "green" city at a faster pace. In 2022, Jinchang's GDP reached 52.25 billion yuan with a year-on-year increase of 13.5%, and its per capita GDP ranked first among the 14 cities and prefectures in Gansu.