Taiyuan, capital city of North China's Shanxi province, saw 2.6 percent year-on-year growth in gross domestic product (GDP) in 2020 despite the impact of the COVID-19 pandemic and the volatile domestic and international business environment.
The city's GDP totaled 415.33 billion yuan ($56.81 billion), according to an announcement from Taiyuan's statistics bureau and the Survey Office of the National Statistics Bureau in Taiyuan on Jan 27.
The added value of all industrial companies above a designated size – those with annual sales revenue of 20 million yuan or more – increased by 3.2 percent compared with 2019.
The high-tech manufacturing industry grew rapidly, with its added value increasing 15.3 percent.
Among the strategic emerging industries, the added value of new-generation information technology, new energy vehicles and new energy industries grew 10.8 percent, 9.9 percent and 9.9 percent, respectively.
The city's general public budget expenditure was 64.74 billion yuan, up 6.0 percent year-on-year.
Annual investment in fixed assets rose 11.3 percent last year, and retail sales of consumer goods totaled 165.51 billion yuan, down 6.4 percent year-on-year but up 25.0 percentage points from the first quarter of 2020.
According to statistics, the per capita disposable income of local urban and rural residents amounted to 38,329 yuan and 19,655 yuan, respectively, an increase of 5.4 percent and 7.0 percent year-on-year.
The value of Taiyuan's foreign trade in 2020 was 121.15 billion yuan and represented year-on-year growth of 8.1 percent, reaching a record high.