During the China Silicon Industry Conference in Baotou on Sept 12, the Xinhua Index Research Institute released the first-ever Baotou Crystalline Silicon Photovoltaic (PV) Industry Development Index, highlighting rapid growth in production capacity and value.

Baotou is among the first cities in China to see its industrial output value exceed 100 billion yuan ($14.08 billion), and it has established a complete industrial chain.

From 2021 to 2023, Baotou's crystalline silicon PV industry achieved an impressive compound annual growth rate (CAGR) of 110.22 percent, indicating rapid, high-quality development. The city leads the country in monocrystalline and polysilicon production, with growth rates well above the national average. Continuous advancements in technological innovation have driven the industry's rapid progress.

Baotou's crystalline silicon sector exhibits strong competitiveness, particularly in the polysilicon segment, where production growth significantly outpaces the national average. Advanced capacity accounts for 70 percent of total production, while the collaborative development of upstream and downstream sectors enhances the full value chain's competitiveness.

The integration of the crystalline silicon PV industry into Baotou's economic and social structure is also notable, with a 52.99 percent CAGR in economic contribution indicators and over 30,000 jobs created. The average monthly income of workers in the industry exceeds 10,000 yuan.

"Baotou benefits from its abundant raw materials and places great emphasis on downstream PV equipment manufacturing and investment in technological innovation," said Cao Zhanzhong, head of the Xinhua Index Research Institute.