Datong maintains economic stability despite downturn pressure
Despite the increasing pressure of an economic downturn, Datong city in North China's Shanxi province has maintained overall stability in financing and prices from January to July.
Its general public budget revenue increased 5.4 percent year-on-year to 10.91 billion yuan ($1.50 billion), while its general public budget expenditure rose 13.7 percent to 23.36 billion yuan.
Despite a 15.3-percent year-on-year decrease in retail sales of consumer goods during this period, new energy vehicles remained hugely popular and their sales jumped 67.6 percent to 360 million yuan.
Over the same period, the cumulative growth in consumer prices stood at 0.2 percent.
The added value of industrial enterprises above designated size – those with annual sales revenue of more than 20 million yuan – grew 2.8 percent year-on-year. Among them, the manufacturing industry provided strong support, with an added value growth of 22.8 percent year-on-year.
Fixed asset investment decreased 11.2 percent, but the number of projects in construction showed a promising trend. The city's projects under construction from January to July reached 864, up 17.4 percent.
The city saw agreements on 154 projects with a total investment of 77.31 billion yuan, 121 of which have started construction and 51 of which come from the Beijing-Tianjin-Hebei region.