Taiyuan's GDP Growth in Q1 Exceeds National Average

|China Daily|Published:2022-12-01 14:53:52

The gross domestic product or GDP of Taiyuan, capital of North China's Shanxi province, grew 6.6 percent year-on-year to CNY 120.17 billion ($18.34 billion) in the first quarter, according to an economic survey jointly carried out on April 24 by the Taiyuan statistics bureau and the National Bureau of Statistics Taiyuan Survey Team. 

Three sectors of the local economy showed robust growth during the period. The added value of the primary, secondary and tertiary sectors reached CNY 575 million, CNY 46.72 billion and CNY 72.87 billion , respectively – increasing 5.6 percent, 7.9 percent and 5.9 percent year-on-year.

The city's industrial added value of businesses above a designated size – those with annual revenue of CNY 20 million or more – increased 12.9 percent during the period, 6.4 percentage points higher than the national average. 

In terms of traditional industries, the city achieved a year-on-year increase of 6.1 percent in the industrial added value.

New industrial drivers continued to burgeon. The added value of the industrial strategic emerging industry and the high-tech manufacturing industry increased 22.1 percent and 25.6 percent, respectively.

The city's investment in fixed assets increased 13.9 percent, 4.6 percentage points higher than the national average. In particular, investment in industry saw strong growth, up 28.4 percent.

Over the past three months, consumption continued to grow in the city, with total retail sales of consumer goods rising 1.7 percent to CNY 45.67 billion. 

Fiscal and financial support remained strong as well in Taiyuan. Its general public budget revenue was CNY 12.27 billion, up 7.5 percent, while the general public budget expenditure was CNY 16.50 billion, an increase of 32.6 percent.

The per capita disposable income of residents in the city was also healthy, putting on 5.4 percent year-on-year to an annual average of CNY 10,265.

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